Next admin should address deepening jobs crisis–IBON
Next admin should address deepening jobs crisis–IBON
#BeyondElections2016 | Research group IBON warned that the steadily falling labor force participation rate (LFPR) and growing underemployment are signs of underlying problems in the labor market, even as unemployment reportedly fell in January 2016. The next administration will need to reverse the neoliberal policies of the Aquino administration to improve the jobs situation, said the group.
The recent January labor force survey (LFS) reports employment increasing by 756,000 from 38.5 million in January 2015 to 39.2 million in January 2016. The number of unemployed fell by 288,000, from 2.7 million to 2.4 million, and the unemployment rate decreased from 6.6% to 5.8 percent.
According to IBON, the decline in unemployed Filipinos and in the unemployment rate since 2014 are played up as signs of an improving economy. Yet though important these are not the sole indicators of the employment situation. On the contrary, taking the LFPR and underemployment into account points to deep labour market problems.
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