NEDA says Alert Level 3 is good for economic recovery as employment rate increased by 1.65 million in November


Imposing Alert Level 3 in Metro Manila and surrounding areas will always be helpful in securing the country’s economic recovery, according to the National Economic and Development Authority (Neda).

Socio-Economic Planning Secretary Karl Kendrick T. Chua said the stricter quarantine level in Metro Manila, Bulacan, Laguna, Rizal, Cavite and other areas through January 15 will help contain the spread of Covid-19.

He assured that Alert Level 3 will be enforced with granular locks and remains useful for managing transmission in 3Cs: closed spaces, crowded places and close contact activities while allowing the rest of the economy to run smoothly. security.

“To contain the spread of the Omicron variant, the government is taking a proactive step back by moving to Alert Level 3. Commercial establishments and public transport will remain operational at lower capacities to allow people to earn a living safely while by reducing the associated risks. with the 3Cs, ”Chua said.

Chua assured that the government would also continue to accelerate the vaccination program as part of the imposition of alert level 3.

On November 3, 2021, the vaccination program was extended to children aged 12 to 17. Vaccinations will soon be rolled out for children aged 5 to 11 after approval from the Food and Drug Administration (FDA) on December 23, 2021.

In addition, said Chua, the health ministry shortened the interval for giving the booster shots to three months.

“We continue to urge the public to remain vigilant and strictly follow health protocols. We also encourage all eligible people to get vaccinated and sign up for their booster shots. With the recent FDA approval of vaccinations for children aged 5 to 11 and the gap between the second dose and the booster narrowing, we expect a more accelerated rollout of our vaccination program to protect more people. people against the Omicron variant and support our recovery in 2022, ”said Chua.

Employment data

More than one million Filipinos found jobs in November 2021, according to the latest Labor Force Survey (LFS) results released by the Philippine Statistics Authority (PSA).

In a briefing Friday, national statistician Claire Dennis S. Mapa reported that there were 45.48 million Filipinos employed in November 2021, an increase of 1.65 million from the 43.83 million recorded in October 2021.

The data also showed that the data for November was 1.89 million more than the 43.59 million employees in September 2021. Mapa pointed out that the data for November 2021 can only be compared to the national estimates for October. and September 2021.

“Patuloy achieved the employment rate during the 14th century of April (2020) in November 2021, at 82.4 percent in April 2020, it was 93.5% in November 2021. In 2021, it n ‘There was only the month of September 2021. Abril 2021, Agosto 2021, to Setyembre 2021, ”said Mapa.

However, Mapa said, there was a significant increase in the number of visibly underemployed people in November. The PSA has defined visibly underemployed people as those who work less than 40 hours during the reference period and wish to work overtime.

Based on PSA data, a total of 7.617 million Filipinos were underemployed. And the majority or 5.24 million of those workers were seen as visibly underemployed.

This represented the addition of 534,000 Filipinos to the ranks of the visibly underemployed. This increase between October and November was almost double the increase from September to October at 293,000.

‘Yes, yung tumaas unemployment rate, significant yan. Yung underemployment rate hindi naman significant if I test natin from the previous month but can of course punctually estimate meron siyang dagdag and nakita natin dahil ito his visible underemployed, ibig sabihin medyo tumaas yung number of employees na less than 40 hours ang kanilang tinatrabaho o ginugugol sa negosyo, ”Mapa explained.

The country’s unemployment rate of 6.5% in November was the lowest since January 2021. A total of 3.16 million Filipinos were unemployed in November.

The unemployment rate in November was the second lowest in July 2021 at 6.9%, while the third lowest was in March 2021 at 7.1%. The unemployment rate was highest in September 2021 at 8.9%.

The Labor Market Participation Rate (LFPR) in November 2021 was estimated at 64.2%, or 48.64 million people aged 15 and over who were either employed or unemployed.

Some 1.31 million Filipinos have joined the labor force, bringing the total number of Filipinos aged 15 and over employed and unemployed in the country to 48.64 million.

This LFPR was higher than the LFPR reported from January to October 2021, except March and June 2021, both at 65%, and May 2021 at 64.6%.