PHL unemployment rate at 6.6 percent in December from 6.5 percent in November 2021
(Eagle News) – The number of unemployed persons in December hit 3.27 million, higher by 113,000 compared to the previous month’s numbers, the Philippine Statistics Authority (PSA) said on Thursday, February 10.
In fact, “the unemployment rate in the country slightly picked up in December 2021 at 6.6 percent from the 6.5 percent reported in November 2021,” according to the PSA.
In a report dated February 10, National Statistician and Civil Registrar General Undersecretary Dennis Mapa said that the total number of unemployed persons in December 2021 was estimated at 3.27 milion. Last November, the number of unemployed reached 3.16 million.
-Fishing, top sector that shed off employment in December-
The top five sub-sectors that shed-off employment month-on-month from November 2021 to December 2021, were the following:
a.Fishing and aquaculture (-393 thousand);
b. Other service activities (-289 thousand);
c. Education (-217 thousand);
d. Public administration and defense, compulsory social security (-80 thousand); and
e. Information and communication (-78 thousand)
To recall, last December, the Philippines was hit by super typhoon Odette that made a record of nine landfalls, and was said to cause even more widespread destruction that supertyphoon Yolanda (Haiyan).
-Fifth lowest underemployment rate in 2021 recorded-
Mapa said underemployement rate was estimated at 14.7 percent in December from 16.7 percent in November 2021. “This was the fifth lowest underemployment rate in 2021,” he said.
According to the PSA, underemployed persons are employed persons who expressed desire to have additional hours of work in their present job or to have an additional job. Those who have a new job but desire longer hours of work are also part of the so-called underemployed.
The services sector consistently had the largest share contributing 46.7 percent of the 6.81 million total underemployed persons. This sector, also called the tertiary sector, basically provides various services such as those related to finance, health care, IT, entertainment. This also includes those in maintenance and repairs, training, or consulting.
The agriculture sector had the second largest share with 33.3 percent while the industry sector contributed 19.9 percent share of the total underemployed persons in December 2021
-LFPR increase to 65.1 percent in December-
Another factor that the PSA looked into was the Labor Force Participation Rate (LFPR). This is the percentage of the civilian population 15 years and older that is working or actively looking for work.
“It is an important labor market measure because it represents the relative amount of labor resources available for the production of goods and services,” according to the US Bureau of Labor Statistics.
In the Philippines, the LFPR increased to 65.1 percent in December 2021 from the 64.2 percent reported in November 2021.
The December 2021 LFPR was reported as the highest for the year 2021, Mapa said.
The increase is equivalent to about 910,000 Filipinos 15 years old and over who were either employed or unemployed, the PSA said.
Among men and women, LFPR among men in December 2021 was higher at 76.1 percent than among women at 54.0 percent. Similarly, employment rate for men was higher at 93.7 percent than among women at 93.0 percent for the same period. Furthermore, men had higher underemployment rate at 16.7 percent than women at 11.9 percent.
“The average weekly hours worked of an employed person in December 2021 was 39.7 hours per week. In November 2021, it was lower at 39.6 hours per week,” it said.
In terms of the sector that was dominant employment hub, the services sector absorved the most employed persons at 26.21 million or more than half of the employed work force (56.61 percent).
(Eagle News Service)