Employment numbers don’t reflect job-market dropouts — think tank - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Philippines Headlines News

Philippines Latest News,Philippines Headlines

The decline in the 2022 jobless rate masks the number of workers who have stopped seeking formal employment, IBON Foundation said. READ:

“Reported unemployment doesn’t count jobless Filipinos who may have dropped out of the labor force after a long time of seeking but not finding work,” the think tank’s Executive Director Jose Enrique A. Africa said in a Viber message.

Job quality improved in December, as the underemployment rate, which represents employed Filipinos looking for more work, fell to 12.6%.“Amid a discouraging labor market, the decline in reported underemployment may not reflect more Filipinos content with their current work and earnings but rather Filipinos stopping to look for better work that is nowhere to be found,” Mr. Africa said.

“There is a need for sustained efforts to combat price pressures, particularly non-monetary government measures,” he said in a Viber message. “Accelerating inflation is really eating into the purchasing power of poor and middle-class Filipinos who have the least ability to absorb rising prices,” Mr. Africa said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Globe 2022 net income jumps by 46% | Lorenz S. Marasigan and Lenie LecturaGlobe Telecom Inc. saw its profits rising by almost half in 2022 mainly due to an all-time high topline and the partial sale of its tower assets and its data center business. In a disclosure to the stock exchange, the Ayala-led telco reported that its full-year 2022 net income reached…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Job quality improves, but unemployment slightly up in December 2022Underemployment rate goes down to 12.6%, but unemployment is slightly up to 4.3%.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Peza lauds recognition of ELSE as ‘eligible activity’ in 2022 SIPP | Andrea E. San JuanThe Philippine Economic Zone Authority (Peza) has welcomed the recognition of the ecozone logistics services enterprises (ELSE) as an “eligible activity” in the 2022 Strategic Investment Priorities Plan (SIPP). “We thank the Department of Finance [DOF], Department of Trade and Industry [DTI], Board of Investments [BOI], and the Bureau of…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Income of Gokongwei-led REIT hits ₧4.4B in 2022 | VG CabuagRL Commercial REIT Inc. (RCR), the country’s largest real estate investment trust (REIT) led by the Gokongwei Group, said its unaudited net income reached P4.4 billion in 2022. The company said the figure excludes the fair value change in investment properties and is 16 percent higher than its goal under…
Source: BusinessMirror - 🏆 19. / 59 Read more »

PH ranks high in ASEAN 2022 cars, motorcycle salesThe Philippines ranked third most vibrant automotive market in ASEAN in 2022 after Malaysia and Vietnam as overall regional car sales grew 22.7 percent at par with the 23.9 percent growth in the region’s motor vehicle production.
Source: manilabulletin - 🏆 25. / 51 Read more »

Adult joblessness ‘hardly moved’ in last quarter of 2022 — SWSA nationwide survey conducted by the Social Weather Stations (SWS) found that adult joblessness was at 21.3 percent of the labor force in the last quarter of 2022.
Source: manilabulletin - 🏆 25. / 51 Read more »