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Philippine Unemployment Rate Goes Down

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Philippine Unemployment Rate Goes Down
« on: June 19, 2007, 10:48:31 AM »
The Philippines' unemployment rate fell to 7.4 percent at the end of April from 8.2 percent a year earlier, the National Statistics Office said.

The unemployment rate at the end of April was also lower compared to a jobless rate of 7.8 percent when the labor force survey was last conducted in January.

The employment rate, or proportion of employed persons to total labor force, was 92.6 percent in April, higher than last year's rate of 91.8 percent.

Across regions, Cagayan Valley recorded the highest employment rate with 97.0 percent, followed by Zamboanga Peninsula (96.9 percent), Autonomous Region in Muslim Mindanao (ARMM) (96.2 percent), and Cordillera Administrative Region (CAR) (96.2 percent). The National Capital Region (NCR) had the lowest at 87.5 percent.

Out of the estimated 56.4 million population of 15 years and over in April, approximately 36.4 million were in the labor force. These figures placed the labor force participation rate at 64.5 percent.

The employment rate of 92.6 percent at end April implies that the total employed population was 33.7 million.

About 49.3 percent of those employed in April were in the services sector, 35.2 percent in agriculture and the rest in the industrial sector, it said.(balita.com)

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