The Philippines’ employment rate increased in the span of three months ended October compared to data during the same period last year.
The October 2019 Labor Force Survey showed on Thursday that the employment rate was at 95.5% from the 94.4% during the same period last 2018. This translates to a 4.4% growth from only having 41.33 million to now 43.15 million employed individuals.
However, the unemployment rate was at 4.5% in October compared to 5.1% in October 2018. This translates to a decrease of 2.2 million to become 2.05 million unemployed individuals this October 2019.
Meanwhile, the underemployment rate was at 13% in October from 13.3% during the same period in 2018. But, data showed that the total number underemployed individuals during the same period rose by 2.1% from 5.5 million to 5.62% this 2019.
Underemployment is the percentage of the total employed population who sought additional work.
Moreover, employed individuals worked 41.8 hours per week in October, which is the average total working hours. The figure was shorter compared to data during the same month last year which was 42.8 hours.
This October 2019 Labor Force Survey was tallied through the involvement of 73.53 million Filipinos aged 15 years and older, a larger population from 71.89 million in 2018.