Philippines jobless rate eases in October with 43.15 million employed

MANILA (UPDATE) -- The Philippines' unemployment rate in the three months ended October eased compared to the same period last year, official data released Thursday showed.

The unemployment rate was at 4.5 percent in October compared to 5.1 percent during the same comparable period in 2018. This translates to 2.05 million unemployed persons, down from 2.2 million during the same comparable period, according to the Labor Force Survey.

The employment rate in October was at 95.5 percent from 94.4 percent during the same period last year. This translates to 43.15 million employed persons, 4.4 percent higher than 41.33 million in October 2018, data showed.

The underemployment rate was at 13 percent in October from 13.3 percent during the same month last year. However, the total number of underemployed persons during the same comparable period rose 2.1 percent to 5.62 million from 5.5 million, data showed.

Underemployment refers to the percentage of the total employed population who sought additional work.

Employed persons worked for an average 41.8 hours per week in October, shorter compared to 42.8 hours during the same month in 2018.

The October 2019 Labor Force Survey was computed using a base of 73.53 million Filipino 15 years and older, a larger pool compared to 71.89 million in the same month last year.

Malacañang assured the public that it would develop the labor sector with skills training.

"[T]he Filipino people are assured that the Duterte administration will continue to strengthen the labor market with better knowledge and skills training to our people to equip them with tools for various kind of jobs that are in demand at present and in the near future," Presidential Spokesman Salvador Panelo said.