So how do we assess the Philippines' unemployment situation? According to NEDA staff, indeed the best possible statement to make is that 2014's unemployment rate of 6.8% is the lowest since 2005, the earliest year against which today's unemployment data can be compared. (Still, one must be mindful that 2014 data exclude Reg. VIII due to Yolanda.)
Monday, July 13, 2015
Historical Philippine unemployment data
The Philippine LFS or Labor Force Survey actually goes way back 1956. However, changes in definitions, sampling methodologies, etc. over the years have resulted in at least 6 distinct series of unemployment data that cannot be compared with one another one-for-one (see graph below).
So how do we assess the Philippines' unemployment situation? According to NEDA staff, indeed the best possible statement to make is that 2014's unemployment rate of 6.8% is the lowest since 2005, the earliest year against which today's unemployment data can be compared. (Still, one must be mindful that 2014 data exclude Reg. VIII due to Yolanda.)
So how do we assess the Philippines' unemployment situation? According to NEDA staff, indeed the best possible statement to make is that 2014's unemployment rate of 6.8% is the lowest since 2005, the earliest year against which today's unemployment data can be compared. (Still, one must be mindful that 2014 data exclude Reg. VIII due to Yolanda.)
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