Jobless rate up slightly to 7.1%

MANILA, Philippines – The country’s unemployment rate rose slightly to 7.1 percent in July from the seven percent recorded in the same period last year due to the lack of gainful job opportunities, latest data from the National Statistics Office (NSO) showed.

The NSO reported that 2.8 million people did not have jobs in July, of which 62.6 percent were males while 37.4 percent were females. More than half of the unemployed population, or 53.1 percent, belonged to the age group 15 to 24 years while one-third or 33.6 percent were high school graduates. About 21.8 percent did not finish college while 20.8 percent of the unemployed population graduated from college.

While there was just a slight increase in the country’s unemployment rate, the NSO reported a higher increase in the country’s underemployment rate.

Underemployed persons are those who express the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer working hours.

The number of underemployed persons in July 2011 was estimated at 7.1 million, placing the underemployment rate at 19.1 percent from 17.9 percent in the same period last year.

More than half or 55.8 percent of the total underemployed were reported as visibly underemployed or working less than 40 hours during the reference week.

Those working for 40 hours or more accounted for 42.7 percent, the NSO reported.

By sector, most of the underemployed were working in the agriculture sector (43.7 percent) and services sector (40.7 percent), NSO data also showed.

The underemployed in the industry sector accounted for 15.7 percent.

The employment rate, meanwhile, dropped to 92.9 percent from 93 percent in July last year.

By region, the National Capital Region recorded the lowest employment rate at 89.1 percent.

“The number of employed persons in July 2011 Labor Force Survey (LFS) was estimated at 37.1 million. This number translates to an employment rate of 92.9 percent. The employment rate in the same quarter last year was 93 percent. Across regions, Cagayan Valley had the highest employment rate at 97.6 percent, followed by Zamboanga Peninsula (96.7 percent), Autonomous Region in Muslim Mindanao (ARMM) (96.3 percent) and MIMAROPA (96.2 percent),” the NSO said. –Iris C. Gonzales (The Philippine Star)