PHILIPPINES DROPS JOBLESS RATE TO 5.3 % FROM 6.6 %, UNDEREMPLOYMENT ARISES AS WORKFORCE OPTED TO SHIFT - PHILIPPINE REPUBLIC NEWS

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Tuesday, March 6, 2018

PHILIPPINES DROPS JOBLESS RATE TO 5.3 % FROM 6.6 %, UNDEREMPLOYMENT ARISES AS WORKFORCE OPTED TO SHIFT






Philippine Statistics Authority (PSA) recorded jobless rate declined to 5.3% percent however the number of underemployment grows due to the increased labor force population in the country. The underemployment rose to 18% in January 2018 from 16.3% in January 2017. While jobless rate or unemployment went down from 6.6% in January 2017, at least 1.3% dropped for the record.


The PSA defines underemployed as “employed persons who express the desire to have additional hours of work in their present job, or to have additional job, or to have a new job with longer working hours.”   




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