Employment improves in April
Jobs growth in all major sectors of the economy pushed total employment to 38.7 million in April 2014, according to the National Economic and Development Authority (NEDA).
The growth posted a 4.5 percent increase from 37.0 million in the corresponding period last year, pushing the unemployment rate to drop from 7.6 to 7 percent.
According to Economic Planning Secretary Arsenio M. Balisacan, the agriculture, industry, and services sectors all posted employment gains, thus promising good performance by the country’s economy in the next quarter. He noted, however, that the data did not include Leyte, as the province was devastated by typhoon Yolanda and no survey was conducted in the area.
Meanwhile, there was also an increase in the labor force participation rate (LFPR), from 63.8 percent in April 2013 to 65.2 percent in April 2014, partly due to greater seasonal influx of new graduates or vacationing students who are working and/or looking for new or summer employment.
To ensure that the labor and employment situation will continue to improve for the rest of the year, Secretary Balisacan suggested that programs should be timely implemented and sustained to improve business climate, mitigate or cope with risks, and facilitate linkages across sectors and regions.