Eastern Visayas posts 92.4% employment rate in October 2021




Eastern Visayas posts 92.4% employment rate in October 2021 (preliminary)


By
PSA-8


February 21, 2022


TACLOBAN CITY – Eastern Visayas recorded a Labor Force Participation Rate (LFPR) of 60.1% in October 2021. This put the region’s labor force at 1.92 million people who were either employed or unemployed out of an estimated population of 3.20 million aged 15 and over in October 2021 The latest working population was 22,000 people lower than the 1.94 million people reported in July 2021 at 60.7% LFPR. However, this figure was 151,000 higher than the LFPR of 56.2% estimated for the same period in 2020. In 2021, the LFPR was lowest in January at 59.8% and highest in April at 62.3%.


The region’s employment rate in October 2021 was estimated at 92.4%, which equated to 1.77 million people employed out of the 1.92 million people employed. This rate was 1.5 percentage points lower than the employment rate of 93.9% in July 2021. It was also 2.3 percentage points lower than the employment rate of 94.7% in October 2020. In 2021, the lowest employment rate of 92.4% occurred in January and October, while the highest employment rate was recorded in April at 95.0%.


The unemployment rate in Eastern Visayas stood at 7.6% in October 2021, or about 146,000 unemployed out of the region’s total labor force. This figure was 1.5 percentage points higher than the unemployment rate of 6.1% recorded in July 2021. It was also 2.3 percentage points higher than the unemployment rate of 5.3% during the same period in 2020. In 2021, the highest unemployment rate of 7.6% occurred in January and October, while the lowest was noted in April at 5.0%.


Employed people who express a desire to work extra hours in their current job or to have an additional job, or to have a new job with longer working hours are considered underemployed. The number of underemployed people in the Eastern Visayas was recorded at 316,000. In terms of proportion, this represented 17.8% of the total number of employed people in October 2021. The latest underemployment rate was lower than the rates underemployment of 27.6% and 21.2% recorded in July 2021 and October 2020, respectively. In 2021, the underemployment rate was lowest in April at 15.5% and highest in July at 27.6%.