Data Highlights

  • Starting April 2016, the Labor Force Survey (LFS) has adopted the 2013 Master Sample Design which has a sample size of approximately 44,000 households.  It likewise used the population projections based on the 2010 Census of Population and Housing.  Other changes made were the use of the 2012 Philippine Standard Occupational Classification (PSOC) from the previously utilized 2002 Update of the PSOC.  
     
  • Preliminary results of the October 2017 Labor Force Survey placed the labor force at 43.739 million translating to a labor force participation rate (LFPR) of 62.1 percent as the total population of 15 years old and over stood at 70.401 million for the period.  Compared to the same period last year, the labor force increased by 15,000 (or 0.03%) as against 43.724 million in October 2016 while the household population of 15 years old and over went up by 1.658 million (or 2.4%). Consequently, the LFPR went down by 1.5 percentage points (from 63.6% in 2016). 
     
  • The number of employed persons in the country stood at 41.551 million in October 2017, a decline of 134,000 from the 41,685 employed in the same period last year. Although 10 regions posted increments in their respective employment led by Region IV-A at 277,000 (4.8%) followed by Region XI at 152,000 (7.5%). However these increments were not enough to counteract the decreases suffered by the seven regions with Region VI posting the highest decline at 181,000; followed by Region VII at 158,000 and ARMM at 153,000.
     
  • By industry, agriculture suffered the brunt of the decrease in employment of 1.427 million (from 11.801 million to only 10.373 million). The industry sector posted an increment of 374,000 with only mining and quarrying and water supply, sewerage, waste management and remediation activities incurring declines of 11,000 and 1000, respectively. The services sector likewise recorded a 920,000 increase in employment with only education (-28,000) and human health and social work activities (25,000) posting reductions.
     
  • By occupation, the decrease in employment was brought about by substantial declines in workers in elementary occupations (-833,000) and managers (294,000). The rest of occupations all registered increments led by technicians and associate professionals (+253,000 or 17.7%); plant machine operators and assemblers (+231,000 or 9.6%) and professionals (+184,000 or 8.9%).
     
  • By class of workers, the decline in employment was primarily caused by the drop in the number of unpaid family workers by 1.106 million (-30.7%). All the rest recorded increments led by workers in private establishments (334,000), employers in own family-operated firm or business (285,000) and those in government/government corporations (247,000).
     
  • Moreover, employed women (-172,000); those aged 15-24 years old (-349,000) and 65 years old and over (-136,000); and those who have not reached college levels generally registered lower number of employed persons for the period.
     
  • On the other hand, employment increases were noted on male workers (+38,000); those belonging to 25 to 34 years old (+391,000) and 55 to 64 years old (+36,000); and those in college, both undergraduates (+316,000) and graduates and in higher level of education (+584,000).
     
  • Unemployed for the period was placed at 2.188 million or an unemployment rate of 5.0 percent, slightly higher than the 4.7% rate on October 2016.  Among regions, Ilocos region posted the highest unemployment rate of 8.2 percent.  By sex, men recorded a higher unemployment rate (5.2%) than women (4.7%). 
     
  • Some 6.617 million workers were underemployed or wanting additional hours of work, or to have additional job or to have new job with longer working hours during the period.  This translates to an underemployment rate of 15.9 percent, lower by 2.1 percentage points than the 18 percent rate recorded the previous year. 
     
  • The average daily basic pay in April 2017 was pegged at ₱408.80, higher by 5.21 than from the ₱403.59 rate in April 2016. Workers in activities of extraterritorial organizations and bodies received the highest pay of ₱1,703.14 for the period.
     
  • The Regional Tripartite Wages and Productivity Board (RTWPB) approved new minimum wage rates for various domestic workers in December 2017. Specifically, the RTWPB approved the new monthly minimum wage rates for domestic workers in NCR at P 3,500 effective December 16, 2017.  Likewise, domestic workers in Region VI, also received wage increases amounting to P1,000 for chartered cities and first class municipalities and P1,500 for other municipalities.  
     
  • Similarly, RTWPBs in Region X and Region XI also authorized effective December 6, 2017 and December 16, 2017 wage increases for domestic workers in the amount of P1,000 (city areas and first class municipalities) and P 500 (other municipalities), respectively.  For SOCCSKSARGEN, an increase of P500 was likewise granted to domestic workers effective December 10, 2017. On the other hand, only in the province of Caraga had a P10 COLA increase to the daily minimum wage rate of workers effective December 8, 2017. 
     
  • The agricultural wage rates of farm workers in real terms in 2016 was registered at P191.69 a day.  Among farm workers, palay workers received the highest wage at P211.35. 
     
  • The index of compensation per employee in non-agricultural industries at constant 1978 prices was posted at 115.2 index points during the 2nd quarter of 2017.  This was slightly higher than the 114.5 index points registered during the same period in 2016. 
     
  • The Consumer Price Index (CPI) was reported at 151.1 index points in December 2017.  This was higher by 4.8 index points compared to the 146.3 index points registered the previous year. The resulting inflation as brought about by the growth in CPI was reported at 3.3 percent, higher from the 2.6 percent posted a year ago.  Meanwhile, the Purchasing Power of the Peso (PPP) minimally weakened to P0.66 in December 2017. 
     
  • The Gross Domestic Product (GDP) at constant 2000 prices during the 3rd quarter of 2017 recorded the same growth rate of 5.4 percent from the same period last year.  In the meantime, the growth in the country’s Gross National Income (GNI) registered a slight gain from 4.9 percent during the same period in 2016 to 5.2 percent in 2017.  
     
  • As reported by the Bangko Sentral ng Pilipinas, the net inward foreign investment reached US$2.377 million in the 3rd quarter of 2017, a gain of US$ 274 million from the same period last year. Furthermore, the net foreign direct investment increased by around US$596 million compared to the 3rd quarter of 2016. On the other hand, the net foreign portfolio investment registered a loss of -US$322.
     
  • Based on the 2016 List of Establishments, there were around 915,726 establishments in the country in 2016. By region, the bulk of the establishments were found in the National Capital Region with 20.5 percent of the total.  This was followed by Region IV-A and Region III with 15.1 percent and 11.3 percent, respectively.  Classified by sector, majority of the establishments were engaged in the non-industrial sector (85.5%), followed by the shares of the industrial sector and agricultural sector at 13.5 percent and 1.0 percent, respectively.
     
  • Meanwhile, the total employment generated by these establishments reached 7,710,908 workers in 2016. Across regions, the National Capital Region comprised more than one-third (36.5%) of the total employment followed by Region IV-A and Region III with shares of 16.0 percent and 9.1 percent, respectively.  Among the sectors, the bulk of the establishments’ employment posted the highest share in the non-agricultural sector (72.6%). Trailing behind is the industrial sector at 24.9 percent  and  agriculture,  forestry  and  fishing  at 2.6 percent.