Unemployment rate rises to 7.1% in October

Published by rudy Date posted on December 15, 2009

MANILA, Philippines (Xinhua) — Philippine unemployment rate was 7.1 percent in October, slightly higher than the 6.8 percent rate posted in the same period last year, the National Statistics Office reported Tuesday.

October’s unemployment level is slightly lower than July’s 7.6 percent.

Philippine underemployment level is at 19.4 percent, up from 17. 5 percent posted in the same period last year.

The NSO said that the Philippine labor force as of October is 38.2 million. The National Capital Region (NCR) recorded the lowest employment rate at 88.2 percent and the highest unemployment rate at 11.8 percent.

Most of the unemployed were males between 15 to 24 years old and only finished secondary education.

Of the estimated 59.7 million population 15 years old and over in July 2009, about 38.2 million persons were reported to be in the labor force. This translates to a labor force participation rate of 64 percent. Most of the employed were laborers and unskilled workers.

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