1.06 million jobs generated in one year

July 2014 employment figures show 1.06 million Filipinos were added to Philippines’ working force from July 2013 to July of 2014. Employed Filipino grew from 37.4 million to 38.5 million.

“Employment generation during the period was broad-based, led by services and industry,” said Socioeconomic Planning Secretary and NEDA Director Arsenio M. Balisacan in a news release by National Economic and Development Authority.

Unemployment declined from 7.3 to 6.7 percent. Number of employed Filipino who wants better job also decreased to 18.3 percent in July 2014 from 19.2 percent in the same period last year.

“To some extent, the growth in the Labor force participation rate (LFPR) reflects the more positive outlook of workers in line with the momentum created by the robust economic growth in recent years, along with the expectations of better employment,” Balisacan added.

“Employment expanded in each class of worker as majority of labor found remunerative work. However, in services and agriculture, which account for the bulk of the country’s labor force, the employment generated was mostly in part-time work. This dampened overall mean hours of work.”

“In industry, the key objective should be to increase investment, especially in labor-intensive sectors, and to encourage the existing pool of employers to hire more workers. In the immediate term, the demand for labor can be driven by the infrastructure program of government, reconstruction activities in the Visayas and other disaster-hit areas, and private construction. In services, the focus must be on increasing sales and clients enough to warrant the hiring of workers. There is much room for expansion in business-process management and tourism-related activities.”