PH unemployment at all-time high with 7.3 million jobless in April 2020
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(3rd UPDATE) The Philippines' unemployment rate for April surges to 17.7%, the highest ever on record, as the coronavirus pandemic wipes out jobs.
Published 10:11 AM, June 05, 2020
Updated 12:25 PM, June 05, 2020
Unemployment soared to 17.7% in April 2020, equivalent to around 7.3 million jobless Filipinos amid the coronavirus pandemic, the Philippine Statistics Authority (PSA) announced on Friday, June 5.
National Statistician Dennis Mapa said this is the highest unemployment rate on record.
Unemployment was only at 5.3% in January 2020, or 2.4 million people, and 5.1% in April 2019, or 2.3 million people.
After January 2020, an additional 4.9 million people became jobless.
The Department of Labor and Employment earlier estimated 5 million jobs would be lost due to the pandemic.
All regions badly hit
All regions reported double-digit unemployment rates in April 2020, with the Bangsamoro Autonomous Region in Muslim Mindanao suffering the worst at 29.8%. (READ: 'Sariling diskarte': The heavy impact of lockdown on micro, small businesses)
The employment rate fell to 82.3%, from 94.7% in January 2020 and 94.9% in April 2019.
Mapa noted that 38.4% of employed workers reported that they were not working, primarily due to the strict coronavirus lockdown.
Underemployment, or people who have jobs but are looking for more to meet their needs, rose to 18.9% in April from the 13.4% in the same month last year. This represents 6.4 million workers or an additional 781,000 people looking for more jobs.
The labor force participation rate among Filipinos 15 years and older is estimated at 55.6%, the lowest since 1987, when data was first available.
The arts, entertainment, and recreation sector posted the largest drop in employment, where 54% of workers lost their jobs. From 436,000 in April 2019, there were only 200,000 workers in April 2020.
The electricity, gas, steam, and air-conditioning supply sector recorded a 43.1% drop. From 108,000 workers, only 61,000 were employed in April 2020.
Information and communication (-40.6%), accommodation and food service activities (-35.8%), and construction (-33.8%) also posted drastic drops in employment.
Workers worked 35 hours per week on average in April, lower than the 41.8 in the same period last year.
Official unemployment figures understate historic jobs crisis
June 5, 2020
IBON said that the unemployment crisis is actually even worse than official figures show. The group estimates that the real unemployment rate is likely around 22% and the real number of unemployed around 14 million. The 20.4 million real unemployed and underemployed today is the worst crisis of mass unemployment in the country’s history.
The Philippine Statistics Authority (PSA) reported 7.3 million unemployed and 6.4 million underemployed in April 2020. As it is, this is the worst government-recorded unemployment (7.3 million) and combined unemployment and underemployment (13.7 million) in the country’s history.
Jobless Filipinos increase to 7.3 million
obless Filipinos increased to 7.3 million in April 2020, as the lockdown in many parts of the country displaced workers, according to the Philippine Statistics Authority’s (PSA) Labor Force Survey.
“Unemployment rate rose to 17.7%, equivalent to 7.3 million unemployed Filipinos in the labor force in April 2020,” National Statistician Claire Dennis Mapa said.
“This is a record high in the unemployment rate reflecting the effects of economic shutdown to the Philippine labor market, due to COVID-19,” Mapa said.
Jobless Filipinos balloon to 7.3 million
The Philippines' unemployment rate jumped to a record 17.7 percent during the coronavirus lockdown, official data released Friday showed, as the government moved to resuscitate the economy and stop further job losses.
The jobless rate in April translates to a total 7.3 million unemployed Filipinos, National Statistician Claire Dennis Mapa said, adding it reflected the "effect of the economic shutdown."
The unemployment rate last topped 10 percent in January 2005, when it was recorded at 11.3 percent, according to Bloomberg data. The labor force participation rate, which covers those 15 years and older, likewise fell to a record 55.6 percent, the lowest since 1987, Mapa said.
"Unfortunately, this is going to get worse, given that this is for the quarter ending April and of course the lockdown lasted more than that," Nomura Securities senior economist for ASEAN Euben Paracuelles told ANC.
"I think there’s quite a bit of an urgent need to really push fiscal measures fairly quickly and in a sizable way," he said.
7.3 million Filipinos jobless in April amid COVID-19 pandemic – PSA
Published Jun 5, 2020 10:47:23 AM
Updated Jun 5, 2020 3:12:00 PM
The COVID-19 pandemic rendered more Filipinos jobless, with the Philippine Statistics Authority reporting 7.3 million unemployed adults in April.
The PSA reported Friday a 17.7 percent unemployment rate, an all-time high. The figure rose from 5.3 percent in January and 5.1 percent a year ago, which meant an additional 5 million people without work.
"This is a record high in the unemployment rate reflecting the effects of the economic shutdown to the Philippine labor market due to COVID-19," National Statistician Claire Dennis Mapa said. Two-thirds of the unemployed are males while the rest are females.
Two-thirds of laborers in the country depend on salaries and wages, while 28.7 percent are considered self-employed, rendering professional services or operating their own businesses.
PSA data also showed that 13 million Filipinos had jobs but were not able to report to work, representing 38.4 percent. Nearly all of them attributed this disruption to COVID-19 regulations.