PHL unemployment rate slightly improves PDF Print E-mail
Tuesday, 30 December 2014 11:01

By MICHAEL VINCENT D. CAJULAO

 

Unemployment rate in the country slightly eases in October to 6% from 6.7% in July of this year, the initial result from the Labor Force Survey conducted by the Philippine Statistics Authority (PSA) revealed.

According to PSA, the service sector remains the largest contributor to the labor force in the country holding over half of the total workers population at 53.7%.

National Economic and Development Authority (NEDA) Director General and Socio-economic Planning Secretary Arsenio Balisacan said  the improved employment is not just about numbers but more important, the quality of jobs.

“It also translated to better quality jobs as around 1.03-M of the total employment generated in October 2014 were considered full time. Consistent with this is the increase in remunerative wage and salary workers, particularly in private establishments”, Balisacan said.

The data, however, does not include the October 2013 data from the province of Leyte which was devastated by Typhoon Yolanda.

Sec. Balisacan also noted the country’s employment growth gives the national government a positive traction at the country’s fourth quarter performance this year.

With this positive development, Balisacan, however, pointed that the present administration should withstand the multidimensional approach of raising investments, mostly in rural areas, and improve productivity, as well as income per capita in the country. — MVC/DTI-9