The employment picture

PHILIPPINES - In Brief 03 Sep 2020 by Romeo Bernardo
The Philippine Statistics Authority released this morning its labor force survey for the third quarter. Overall, the numbers paint an improving employment picture in 3Q following the strict lockdown in 2Q. However, the 10% unemployment is at its highest since 2004 and 17% underemployment since 2016. The data also suggest loss of quality jobs (wages and salary) with the sector having preserved jobs this year (agriculture) also having the lowest labor productivity. The latest data support our view of a slow economic recovery. Below charts speak for themselves. Data from http://www.psa.gov.ph/statistics/survey/labor-and-employment/labor-force-survey.

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