25492
Philippines Jobless Rate Steady
World Economy

Philippines Jobless Rate Steady

Philippines’ unemployment rate in July hits 6.5%, the Philippine Statistics Authority said on Wednesday.
This year’s figure for July is lower than the 6.7% reported in July last year, but higher than the 6.4% unemployment rate in April 2015, ABS-CBN News reported.
The July and April figures exclude Leyte province, which was battered by Super Typhoon Yolanda (Haiyan) in late 2013, to make them comparable with year-ago figures.
There were 39.2 million employed in the Philippines as of July, steady compared with the April figure reported earlier.
The labor force participation rate was estimated at 63%, down from 64.4% a year ago. Part-time jobs are in demand in the Philippines.
There were 8.22 million underemployed in July versus 6.98 million in April, with an underemployment rate of 20.8%.
About 50% of the underemployed worked for less than 40 hours a week. Most of the underemployed worked in the services and agriculture sectors.
Of the estimated 39.2 million people employed in July, more than half were in the services sector, nearly 30% in agriculture and the rest were in industry.
Manila is targeting a gross domestic product growth of 7-8% this year, but Economic Planning Secretary Arsenio Balisacan has said a more realistic goal would be between 6-6.5%, citing risks from El Nino weather pattern and sluggish exports.

 

Short URL : https://goo.gl/pECPRS
  1. https://goo.gl/4TdqZG
  • https://goo.gl/pTV3mo
  • https://goo.gl/DeFcM9
  • https://goo.gl/JKMi2A
  • https://goo.gl/RjASRl

You can also read ...

French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
Farnborough Airshow Announces $192b in Orders
England’s Farnborough airshow this week saw deals worth $192...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...

Trending

Googleplus