PSA reports key employment figures improve in April 2015

The Philippine Statistics Authority, on Tuesday, released key employment figures in April 2015. According to the report, the country’s unemployment rate significantly reduced to 6.4 percent in April 2015 from 7.0 percent of the same month in 2014. This means 495,000 Filipinos were employed and reduced the total number of unemployed to 2.7 million.

“It is noteworthy that the improvement in the employment situation appears to be broad-based. Thirteen out of seventeen regions, including the National Capital Region or NCR, exhibited a decline in unemployment during the survey period,” Economic Planning Secretary and NEDA Director-General Arsenio Balisacan said.

“NCR continued to post the highest unemployment rate at 9.3 percent, while ARMM recorded the lowest unemployment rate at 3.2 percent,” Balisacan noted.

The report also shows that 44,000 Filipinos are no longer underemployed, reducing the total number to 7.0 million employed persons who want more work for the period.

“If these developments are sustained for the rest of the year, the full-year average will likely surpass the Philippine Development Plan target of 6.6 to 6.8 percent for the unemployment rate and 18.0 percent for the underemployment rate in 2015,” Secretary Balisacan said.