How many are unemployed in the Philippines 2018?

In 2016 alone, approximately 30 billion U.S. dollars were received as remittances in the Philippines, and the amount seems to increase significantly every year….Philippines: Unemployment rate from 1999 to 2020.

How bad is unemployment in the Philippines?

The underemployment rate, or the percentage of the working population looking for more work, went down to 14.2\% or 6.18 million Filipinos in September from 14.7\% or 6.48 million Filipinos in August. …

What is the unemployment rate of Philippines?

8.9 percent
MANILA, Philippines — The unemployment rate in the country rose to 8.9 percent—equivalent to 4.25 million Filipinos—in September 2021, the highest since January this year, the Philippine Statistics Authority (PSA) reported Thursday.

Why is unemployment still very high in the Philippines?

As an example, rapid population growth is one of the reasons why unemployment in the Philippines remains high despite robust economic performance (Brooks, 2002) . … It must be highlighted that the most affected sectors of unemployment are women who are residing in urban areas.

What is a bad unemployment rate?

However, economists suggest that as the U.S. unemployment rate gets below 5\%, the economy is very close to or at full capacity. So at 3.5\% one could argue the level of unemployment is too low, and the U.S. economy is becoming inefficient.

Why is unemployment high in the Philippines 2021?

Unemployment slightly increased in September 2021 as the country’s economic centers remained under stringent quarantines and as weather disturbances affected agriculture, but employment prospects remain promising as the country shifts to granular lockdowns, the National Economic and Development Authority (NEDA) said.

Is it bad to be unemployed?

But for most of us, losing a job is incredibly stressful. Money starts to dry up, social networks fall apart, and self-esteem takes a nose-dive. In fact, a growing number of studies suggest unemployment can lead to a host of serious mental and physical illnesses.

What are the negative effects of unemployment?

Inability of educated people who are willing to work to find gainful employment implies a great social waste.

• (ii) Unemployment tends to increase economic overload.
• (iii) Unemployment has detrimetnal impact on the overall growth of an economy.

What is the current unemployment rate in the Philippines in 2018?

Answer Wiki. The unemployment rate in the Philippines dropped to 5.3 percent in the first quarter of 2018 from 6.6 percent a year ago. The number of unemployed persons went down by 441 thousand to 2.32 million while the number of employed increased by 2,408 thousand to 41.76 million.

What is the current unemployment rate in Ilocos Region?

In 2018, the unemployed persons numbered about 2.3 million resulting to an annual unemployment rate of 5.3 percent (Tables 3 and 4). Among the regions, Ilocos Region (6.8\%), NCR and CALABARZON (6.6\%) were the regions with the highest unemployment rates (Table 4).

What is the current unemployment rate in the United States?

According to the PSA’s Labor Force Survey (LFS), the country’s unemployment rate inched up to 5.1\%, slightly higher than the recorded 5\% in October 2017. The employment rate also slightly went down to 94.9\% from 95\%.

Why is it difficult for Filipinos to get a job?

Some Filipinos cannot get employment that pays a decent wage or employment that employs them adequately during the working day. This is because, compared to other countries in Southeast Asia, the Philippines has a very restrictive Constitution that limits the amount of foreign investment in various industries located in the country.