PH’s unemployment rate dropped to 6.9% in July — PSA

Marje Pelayo   •   September 7, 2021   •   324

MANILA, Philippines — The Philippine Statistics Authority (PSA) reported on Tuesday (September 7) that the country’s unemployment rate was reduced to 6.9% in July 2021.

This means over 1.07 million individuals were hired during the said period based on PSA’s latest Labor Force Survey.

The report showed that the number of unemployed Filipinos reduced from 4.14 million in April 2021 to only 3.07 million in July.

Among the sectors that marked additional employment include administrative and support services, construction, education, arts, entertainment, and recreation as well as professional, scientific, and technical sectors.

“Talagang nakita lang na maraming nagkaroon ng trabaho kaya’t bumaba ang ating unemployment rate sa 6.9% nitong July. Compared sa 8.7% noong April and the past months, nasa 7.7% tayo so talagang marami naman ang nakahanap ng trabaho,” said PSA’s National Statistician and Civil Registrar General Undersecretary Dennis Mapa.

The PSA, meanwhile, reported that though the country’s employment rate increased to 93.1% from April to July this year, around 1.6 million Filipinos lost their jobs during the same period.

Among the sectors that cut jobs include the agriculture and forestry sectors, wholesale and retail trade as well as mining.

The PSA also said that around two million individuals opted not to join the current labor force, citing the pandemic and the difficulty in landing a job as reasons.

“Nakita namin na ang rason nila ay dahil sa COVID-19 pandemic. That is 5.9 percentage points at mayroong 1.1% na nagsabing mahirap makahanap ng trabaho kaya hindi na sila nag-participate,” Mapa said. MNP (with reports from Rey Pelayo)

Phl inflation slows down in November — PSA

Maris Federez   •   December 7, 2021

MANILA, Philippines — The inflation rate in the country slowed down in November, the Philippine Statistics Authority reported Tuesday (December 7).

The PSA said the country’s inflation “continued to exhibit a slower pace as it eased further to 4.2 percent in November 2021, from 4.6 percent in October 2021”.

The average inflation from January to November 2021 remained at 4.5 percent. Inflation in November 2020 was posted at 3.3 percent.

The reason behind the downtrend in the overall inflation in November 2021 was the slow movement in the price index of food and non-alcoholic beverages at 3.9 percent inflation.

“Ang dahilan ng pagbagal ng antas ng inflation nitong  Nobyembre 2021 ay ang mas mabagal na paggalaw ng presyo ng food and non-alcoholic beverages na may 3.9 % inflation at  93.2 % share sa pagbaba ng pangkalahatang inflation sa bansa,” PSA national statistician Dennis Claire Mapa said.

In addition, lower inflation was also recorded in the price of alcoholic beverages and tobacco at 7.5 percent, and furnishing, household equipment, and routine maintenance of the house at 2.4 percent.

A downward trend was also registered in the inflation for food index as it slowed down further to 4.1 percent in November 2021, from 5.6 percent in the previous month.

By specific food item, the annual growth rate of vegetables dropped by -1.8 percent during the month, after posting a double-digit annual increase of 11.4 percent in October 2021.

Moreover, annual increases in the indices of meat and fish, slid at 10.7 and 7.9 percent, respectively.

However, on a month-on-month basis, both meat and pork recorded positive inflation at 2.4 and 4.2 percent, respectively.

“Pork prices continuously went down month-on-month from July to early-October. This means that our policy to temporarily import pork has been effective. However, the uptick in prices in November shows that we need to further ease administrative requirements for the unloading and distribution of stocks to encourage more importation and help bring back pork prices to their pre-African Swine Fever level,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said.

On the other hand, the PSA also noted that non-food inflation slightly rose to 4.1 percent from 3.8 percent for the same period.

This was caused mainly by high international crude oil prices, which drove up transport inflation to 8.8 percent from 7.1 percent.

Slight increase in inflation was also reflected in housing, water, electricity, gas, and other fuels at 4.6 percent from 4.4 percent. —/mbmf

Phl unemployment rate declines at start of 4Q

Maris Federez   •   December 7, 2021

MANILA, Philippines — The number of unemployed Filipinos hit 3.5 million in October, lower than the recorded 3.81 million in the same month last year, the Philippine Statistics Authority (PSA) reported Tuesday (December 7).

The PSA report said that based on the October 2021 Labor Force Survey, the country’s unemployment rate in October this year was the third-lowest reported in 2021 at 7.4 percent.

The lowest reported was in July 2021 estimated at 6.9 percent, followed by 7.1 percent in March 2021.

The country’s unemployment rate was highest this year in September at 8.9 percent, the PSA report added.

Meanwhile, the study also showed that the country’s employment rate has “improved with a reported 43.83 million employed persons in October 2021 from 39.84 million employed persons in the same period last year.”

In July 2021, the number of employed persons was registered at 41.67 million, the study added.

The underemployment rate, on the other hand, was registered at 16.1 percent in October 2021.

The PSA said this was lower than the 20.9 percent reported in July 2021 but higher than the October 2020 estimate of 14.4 percent.

Underemployed are those “employed persons who expressed desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work”. —/mbmf

PSA: Inflation eased at 4.6% in October

Maris Federez   •   November 5, 2021

MANILA, Philippines —  The country’s headline inflation decelerated in October 2021, registering decreasing prices of basic goods and services, the Philippine Statistics Authority (PSA) announced Friday, November 5.

The PSA, in its Summary Inflation Report Consumer Price Index report, said the inflation eased further to 4.6 percent in October 2021 from 4.8 percent in September 2021.

It added that this brings the year-to-date inflation from January to October 2021 at 4.5 percent.

Inflation in October 2020 was posted at 2.5 percent.

“The main source of the downward trend of the October 2021 inflation was primarily due to the slower annual increment registered in food and non-alcoholic beverages index at 5.3 percent, from 6.2 percent in September 2021,” the agency said.

“Na-balance siya, nagkaroon tayo ng pagtaas sa petroleum and LPG na nagkaroon ng impact sa transport and component ng Household, Water, Electricity, Gas and other fuels, but the prices of food dropped. Of course, we saw that the meat prices particularly pork bumaba siya,” said Usec. Dennis Mapa, Philippine Statistics Authority head.

Contributing also to the downward trend in the overall inflation were the lower inflation recorded in the indices of the following commodity groups:

  • Alcoholic beverages and tobacco, 9.8 percent;
  • Education, 0.7 percent; and
  • Restaurant and miscellaneous goods and services; 3.8 percent.

On the other hand, inflation rates were higher in the indices of the following commodity groups:

  • Housing, water, electricity, gas, and other fuels, 4.4 percent;
  • Furnishing, household equipment, and routine maintenance of the house, 2.5 percent;
  • Health, 3.2 percent
  • Transport, 7.1 percent; and
  • Recreation and culture, 1.0 percent.

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