MANILA (Mabuhay) – The number of jobless Filipinos who belong to the labor force fell in October from a year earlier while those working additional hours or holding more than one job went up, the Philippine Statistics Authority reported Wednesday.
The latest labor force survey (LFS) showed 6 percent jobless rate in October 2014 from 6.4 percent a year earlier.
The latest unemployment rate translates to 2.4792 million jobless Filipinos.
However, PSA noted the October 2014 LFS did not cover the province of Leyte, which was devastated by Typhoon Yolanda, the strongest to make landfall, in November 2013.
PSA estimates showed there were 64.263 million Filipinos 15 years and over in October 2014, of which 41.32 million were counted as part of the labor force.
The total underemployment rate was estimated at 18.7 percent in October 2014.
The underemployed or those who work under 40 hours a week were estimated at 57 percent, compared with 62.4 percent a year earlier, while those who worked for over 40 hours made up 41.6 percent of the underemployed workers.
With the decline in the unemployment rate, the employment rate rose to an estimated 94 percent from 93.6 percent, according to the PSA. (MNS)