PHL unemployment rate down at 5.5% in April

The number of jobless Filipinos declined in April compared with the same month last year, data released by the Philippine Statistics Authority (PSA) on Tuesday showed.

Results of the Labor Force Survey showed unemployment rate improved at 5.5 percent equivalent to 2.360 million Filipinos from 5.7 percent or 2.443 million in the same period last year.

“Unemployment has declined. It’s good. We have created 685,000 new jobs as result of this ... we are very happy... ” Budget Secretary Benjamin Diokno said during a press briefing in Manila.

National Economic and Development Authority Undersecretary Rosemarie Edillon said during the same briefing that the unemployment rate was the lowest recorded for all the April rounds of the Labor Force Survey.

The regions with highest unemployment rates are Ilocos at 7.3 percent, CALABARZON at 6.6 percent, and National Capital Region at 6.4 percent.

Despite the decrease in unemployment, underemployment rate—the proportion of employed persons wanting additional work—rose to 17 percent equivalent to 6.934 million from 16.1 percent or 6.468 million.

“Underemployment still warrants attention ... What really needs to happen is for the workers to really improve their employability so we get to more remunerative jobs. It’s a job that gives you decent wages. And, I think, to do that is through human capital investments,” Edillion said.

The government is investing heavily in human capital, she said, citing free tuition for students in state colleges and universities and higher assistance to technical-vocational education schools.

The employment rate in April improved at 94.5 percent or 40.896 million Filipinos from 94.3 percent or 40.271 million year-on-year.

The industry sector recorded a strong employment growth rate of 8.1 percent or 605,000 workers, increasing its total employment share to 19.7 percent, the largest in the past decade, according to the PSA.

The construction subsector is the biggest contributor to employment, generating 468,000 jobs.

“Employment grew partly due to increased infrastructure spending as the Department of Public Works and Highways’ road projects and rehabilitation of public school facilities are already underway nationwide,” NEDA Officer-in-Charge and Undersecretary Jose Miguel de la Rosa said in a separate statement.

“We are now seeing the contribution of the Build, Build, Build campaign in terms of job generation. We can expect the demand for workers in the sector to grow further as more projects break ground,” De la Rosa said.

Out of the total employed persons, 68.0 percent were full-time workers, while 31.0 percent were part-time workers. 

Full-time workers comprised 60.8 percent in April 2017, while part-time workers were 37.8 percent. 

In April 2018, workers worked 42.0 hours on average per week , while in April 2017, the mean hours worked per week were 40.3.

The labor force participation rate (LFPR) in the April 2018 survey was estimated at 60.9 percent cover the 71.0-million population of 15-year olds and over.  —VDS, GMA News