We welcome with relief the report by the Philippine Statistics Authority (PSA) that its latest Labor Force Survey showed that overall unemployment rate in the country fell to 5.3 percent in January from 6.6 percent a year earlier. That is the reading for the climb in employment rate to 94.7 percent in January from 93.4 percent a year earlier. These improvements in the labor market, according to Socioeconomic Planning Secretary Ernesto Pernia, indicate that more Filipinos are encouraged to join and rejoin the labor force, and that more people are being employed. The benefits to companies should accrue to the creation of more quality jobs. The latest survey shows that unemployment rate among the youth fell to 12.5 percent in January 2018, the lowest rate recorded for January since 2009.

Source: Manila Times March 07, 2018 16:18 UTC