The unemployment rate of the Philippines decreased by 0.4 percent from 2017. Out of 71 million Filipinos, only 3.5 million were unemployed, and 11.7 million were underemployed.
Based on the Annual Labor and Employment Status 2018 of the Philippines, which was released by the Philippine Statistics Authority, accounted a 41.2 million Filipinos were employed in 2018.
According to the report, Ilocos Region (6.8%), NCR and CALABARZON (6.6%) were the regions with the highest unemployment rates.
Moreover, among the unemployed persons in 2018, 75.2 percent belonged to age group 15 to 34 years old. Those in the age group 15 to 24 years composed 44.6 percent of the unemployed while those in the age group 25 to 34 years, 30.6 percent in 2018.
Further, underemployed persons who work for less than 40 hours in a week are called visibly underemployed persons. They accounted for 53.2 percent of the total underemployed persons in 2018 and 56.0 percent in 2017 .
By comparison, the underemployed persons who worked for 40 hours or more in a week made up 45.6 percent. By sector, 45.5 percent of the underemployed persons worked in the services sector, while 34.6 percent were in the agriculture sector. Those in the industry sector accounted for 19.9 percent.
Report from PSA