Philippines Unemployment Rate

Unemployment Rate in Philippines decreased to 7.0 percent in the first quarter of 2014 from 7.50 percent in the fourth quarter of 2013. Unemployment Rate in Philippines averaged 9.01 Percent from 1994 until 2013, reaching an all time high of 13.90 percent in the first quarter of 2000 and a record low of 6.30 percent in the third quarter of 2007. Unemployment Rate in Philippines is reported by the National Statistics Office of Philippines

Philippines Unemployment Rate Down to 7%

In April of 2014, Philippines jobless rate decreased to 7 percent from 7.5 in the previous period and 7.6 percent a year ago.

Among the unemployed persons in April of 2014, 61.7 percent were male of the total unemployed, the age group 15 to 24 years comprised 49.8 percent, while the age group 25 to 34, 30.5 percent. By educational attainment, one-fifth (22.4 percent) of the unemployed were college graduates, 14.5 percent were college undergraduates, and 32.7 percent were high school graduates.

Underemployed persons who work for less than 40 hours in a week for 61.0 percent of the total underemployed in April 2014. The proportion in the same month of 2013 was lower (53.7 percent). By comparison, the underemployed persons who worked for 40 hours or more in a week made up 36.4 percent. By sector, 41.3 percent of the unemployed worked in the agriculture sector, while 40.9 percent were in the service sector. Those in the industry sector accounted for 17.8 percent.

The employment rate in April of 2014 us estimated at 93.0 percent and the number of employed persons rose to 38.66 million, from 37.01 million recorded a year ago. The labor force participation rate is estimated at 65.2 percent.