THE country’s employment rate in October was estimated at 95.5 percent from 94.9 percent in the same month last year, the Philippine Statistics Authority (PSA) said. Results of the latest Labor Force Survey (LFS) released on Thursday showed that a total of 43.146 million individuals had jobs, up by 4.4 percent from last year’s 41.325 million. Underemployment rate was recorded at 13.0 percent from 13.3 percent a year ago. “This was due to the higher labor force participation rate so that is why while the percentage decreased, the number is relatively higher compared to last year,” said Mapa. In October, the labor force participation rate was at 61.5 percent from 60.6 percent last year.

Source: Manila Times December 05, 2019 02:32 UTC