Unemployment Rates Throughout The Century

The Philippines Government released the Economic General Information Office (EGI) report in January. Unemployment rate in the country, however, went down to 4.2 percent by January (1). Nevertheless, this reduction is due to temporary changes as well as CO VID break out.The number of unemployed also decreased from 13.3% in December 2021 to 4.2% in January 2021.Therefore, we still have some employment issues.

In December of twenty one twenty fifteen less people got jobs because of the outbreak of Co vid pandemic.(30)These positions were debased from a peak figure which was over thirteen point three thousand during January twenty one.(31)So why did a level of unemployment go up in a time of corona virus? That is what pages sixteen through twenty-four answer.These are the numbers of newly created positions that appeared within an epidemic period.Over half million new employments can be found there.

Between CO VID and subsequent months’ job losses are noticed in various parts of our nation.Job loss rates in this state were high just like other commonwealth countries.It was Baguio that was hardest hit.It has lost nearly three hundred jobs compared with twelve months ago.Followed by Mindanao and Surgeon situated at North part respectively.

Significant improvement on education levels has been seen according to March twenty-one covid-19 pandemics unemployment rates report.A rise by three points regarding educational level during this period was recorded for Mindanao.Bangus – VA Home Energy Assistance Program began operating then(33).Nearly two hundred fifty thousand families benefited from it according to congressional research service evaluation.It therefore shows these measures reduced joblessness level in Mindanao.

Monthly covid results for March reveal that unemployment rates declined in several districts(35).However, participation rate rose slightly.(36)Because of this development, by end month figures it meant that there are so many people who were jobless in December and January leading to decrease in work force population. According to this figure, the most important thing is that after losing jobs due to Co vid pandemic, majority of employees came back to work again. Data by the Congressional Research Service show that in December and January only three percent of families earned income regularly.

Economists disagree on how they read the present CO VID situation. Despite a positive picture outlined by CDSI statistics, unemployment rate among Filipinos remains high as with other countries. One of the reasons is that Philippine statistics are unstable because they rely heavily on import substitution. As per congressional research service data which was collected about twenty years ago, seventy percent of GDP increases have been attributed to foreign direct investment (FDI).

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