MANILA, Philippines – The unemployment rate in the country edged down to 6.9% in April from 7.2% in the same period last year, according to the latest jobs report from the National Statistics Office (NSO).
The April Labor Force Survey described the newest numbers as “not significantly different from” the 2011 rate. The news comes as Filipinos’ perceptions about the job market are souring, with 60.2% believing unemployment will increase in the next 12 months.
The National Capital Region posted the highest unemployment rate at 10.4%.
More males (62%) were unemployed than females (37.7%).
The younger generation is particularly plagued by unemployment, with 51.7% of the jobless in the 15-24 age range. All educational groups were hit, even college graduates who posted a 21% unemployment rate. High school graduates made up almost a third of the unemployed, while 13.8% were college undergraduates.
The number of employed Filipinos in April 2012 was estimated at 37.8 million. The employment rate for April was 93.1% compared to 92.8% a year ago.
More than half (51.4%) of those employed worked in the service sector, with the highest percentage engaged in wholesale and retail trade, repair or motor vehicles and motorcycles (19% of total employed).
Meanwhile 1/3 or 33% of those employed were in the agriculture sector. Only 15.6% were in industry, with just 8.4% in the manufacturing sub-sector.
The April jobs data show that laborers and unskilled workers make up the largest group (33.2%) of total employed persons. – Rappler.com