Unemployment in the Philippines fell in July, a survey of the Philippine Statistics Authority (PSA) said on Friday.
The labor force survey in July showed 2.335 million Filipinos were jobless or about 5.4 percent unemployment rate from 6.5 percent a year ago.
“Our growing economy, which is largely driven by output expansion in the services and industry sectors, has created more and better jobs,” said Socioeconomic Planning Secretary Ernesto Pernia in a statement.
“The unemployment rate in July 2016, the lowest recorded for all July rounds in the past decade, increases the likelihood of achieving the Philippine Development Plan target of 6.5 to 6.7 percent for 2016,” he added.
Regions with high unemployment were Region IV-A or Calabarzon (7.6 percent), National Capital Region (6.5 percent), Region III or Central Luzon (6.2 percent) and Region 10 or Northern Mindanao (6.1 percent).
Most unemployed or 60.7 percent were males. Of the total unemployed, the age group 15 to 24 years comprised 48.2 percent, while the age group 25 to 34, 28.2 percent. By educational attainment, 21.9 percent of unemployed were college graduates, 14.4 percent were college undergraduates, and 28.1 percent were high school graduates.
Underemployment in July was at 17.3 percent or 7.094 million Filipinos from 21 percent in July last year.
Considered underemployed are persons who want to have additional hours of work in their present job, or to have an additional job, or to have a new job with longer working hours.
For July, 40.974 million Filipinos or 94.6 percent were employed.
By sectors, services recorded the highest employment rate with 55.3 percent, followed by agriculture with 26.9 percent, and industry, 17.8 percent.
Pernia, also director general of the National Economic and Development Authority, said the government needs to focus efforts on helping unutilized or underutilized youth, the unemployed youth, and vulnerable workers.
“Sustainable livelihood and entrepreneurship schemes for vulnerable workers must be developed by intensifying advocacy for financial literacy, linking them to market supply chains, and providing wider access to capital, credit and technology,” he said.
The International Labor Organization said in 2015, employment growth in the Philippine is at 2 percent, the midpoint level in Southeast Asia. Celerina Monte/DMS
