Labor Secretary Rosalinda Baldoz has said she was “happy to note that overall unemployment is down from 6.6 percent a year ago to 5.8 percent this January 2016.”
Baldoz described the very small achievement as “the seventh consecutive round that the unemployment rate had dipped below 7 percent and the 21st consecutive survey rounds that the unemployment rate has remained in single-digit.”
Citing the data prepared for the 2016 Labor Force Survey (LFS) by the Philippine Statistics Authority (PSA), she said the net increase in the number of employed persons was recorded at +752,000 that occurred in a broad spectrum of the services and industry sectors.
Baldoz pointed out that “quality employment, as shown by the number of wage and salary workers, marked this survey round’s employment growth, reaching 24.808 million, or an increase of 2.675 million over the 22.134 million of wage and salary workers recorded [by the LFS].”
“The result of the 2016 January Labor Force Survey is a welcome piece of good news. It strongly reinforces the concrete gains of the administration of President Benigno Aquino 3rd in decent work,” she said.
The Ibon Foundation, however, belittled the output because according to the independent research group the 0.8 percent unemployment reduction failed to significantly solve the massive unemployment problem that the next President of the country would encounter.