Philippines Unemployment Rate Up to 7.1% in January


In Philippines, the unemployment rate rose to 7.1 percent in January of 2013, from 6.8 percent in October of 2012. The employment rate is estimated at 92.9 percent, from 93.2 percent recorded last quarter.

The results of the January 2013 Labor Force Survey revealed that there were approximately 37.94 million employed persons in January 2013. This figure translates to an employment rate of 92.9 percent, which is similar to the employment rate reported in January 2012 (92.8 percent). Among the regions, Cagayan Valley (96.7 percent), and Zamboanga Peninsula (96.6 percent) had the highest employment rate. The National Capital Region recorded the lowest employment rate at 90.5 percent.

The population aged 15 years and over was estimated at 63.7 million in January 2013. Out of this estimate, 40.8 million persons were in the labor force, or were either employed or unemployed. These figures resulted in a labor force participation rate of 64.1 percent, which is similar to the labor force participation rate recorded in January 2012 (64.2 percent). Northern Mindanao had the highest labor force participation rate among the regions, with 68.5 percent, while Autonomous Region in Muslim Mindanao had the lowest labor force participation rate with 58.1 percent.
 
Of the estimated 37.94 million employed persons in January 2013, majority (54.1 percent) were working in the services sector. Among the workers in this sector, those engaged in wholesale and retail trade; repair of motor vehicles and motorcycles comprised the highest percentage (18.9 percent of the total employed).
Those who worked in the agriculture sector comprised the second largest group making up 30.4 percent of the total employed while workers in the industry sector made up the smallest group registering 15.5 percent of the total employed.  Workers in the industry sector were mostly in the manufacturing and construction sub-sectors, comprising 8.3 percent and 6.0 percent, respectively, of the total employed.
 
Among the major occupation groups, laborers and unskilled workers constituted the largest group making up 32.8 percent of the total employed in January 2013. Farmers, forestry workers and fishermen were the second largest group comprising 12.7 percent of the total employed.  
 
The percentage of the wage and salary workers to the total employed had increased to 60.2 percent in January 2013 from 55.2 percent in January 2012. The percentage shares to the total employed of the self-employed and of those working without pay in own family-operated farm or business had decreased correspondingly. Of the total employed persons in January 2013, 65.1 percent were full time workers, while 33.9 percent were part-time workers. By comparison, in January 2012, full-time workers comprised 62.1 percent while part-time workers made up 36.7 percent.
 
The estimated number of underemployed persons in January 2013 was 7.93 million, placing the underemployment rate at 20.9 percent of the employed population. In comparison, in January 2012, the underemployed was estimated at 7.02 million comprising 18.8 percent of the total employed.  
 
The unemployment rate in January 2013 was estimated at 7.1 percent, which is similar to the rate reported in January 2012 (7.2 percent). Unemployment rate was highest in National Capital Region at 9.5 percent and lowest in Cagayan Valley at 3.3 percent. Among the unemployed, 63.6 percent were males. Almost half (49.3%) of the unemployed were aged 15 to 24 years.
 
By educational attainment, one-third or 33.7 percent of the unemployed were high school graduates, 13.1 percent were college undergraduates, while 16.9 percent were college graduates.

Philippines National Statistics Office | Joana Taborda | joana.taborda@tradingeconomics.com
3/15/2013 9:33:27 AM