PH jobless rate unchanged despite GDP growth

Published by rudy Date posted on October 16, 2012

Despite a 5.9-percent economic growth in the second quarter, labor market conditions in the country have not improved, according to a World Bank research note.

The October 2012 Job Trends note issued by the World Bank’s Human Development Network said that labor markets in four East Asian countries, namely, the Philippines, China, Thailand and Indonesia continued to perform reasonably well.

However, economic growth, as measured by gross domestic product (GDP), did not translate into better labor market conditions in the Philippines and Indonesia.

“GDP growth remained reasonably high in Indonesia and picked up speed in Thailand and the Philippines. These growth increases did not necessarily translate into improved labor market conditions, however, except in Thailand,” the note said.

The Philippine economy grew 5.9 percent in the second quarter of 2012 from 3.1 percent in the same quarter last year.

Despite the GDP growth, latest figures showed that the unemployment rate in the country hit 7 percent in July 2012, almost unchanged from 7.1 percent a year ago.

Further, the report noted that the quality of employment was deteriorating, as the underemployment rate rose by 22.7 percent in July 2012 from 19.1 percent in July last year.

The National Economic and Development Authority (Neda) earlier said the government was working to address the challenge of creating more jobs and ensuring the quality of employment in the country.

Neda said it would work closely with the Department of Labor and Employment in crafting measures to encourage private investments that would generate stable and high-quality employment.

The Human Development Network is World Bank’s unit for policy, programs and research in the fields of education, health, nutrition & population, social protection and labor, children and youth, HIV/AIDS and development dialogue. –Ana G. Roa, Philippine Daily Inquirer

July 2025

Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”

Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – International Plastic Bag Free Day
 
5 July –
World Youth Skills Day 
7 July – Global Forgiveness Day
11 July – World Population Day 
17 July – World Day for
International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons 


Monthly Observances:

Schools Safety Month

Nutrition Month
National Disaster Consciousness Month

Weekly Observances:

Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.