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Eastern Visayas' labor force statistics show positive trends in 2022

Eastern Visayas' labor force statistics show positive trends in 2022

Eastern Visayas sees a positive trend in its labor force, with a 97% employment rate and a 3% unemployment rate in October 2022, marking significant progress for the region. Photo: PSA Eastern Visayas

TACLOBAN CITY – Eastern Visayas has recently seen a surge in its employment rate and a decrease in its unemployment rate, according to the preliminary October 2022 labor force statistics. With a participation rate of 64.3%, Eastern Visayas' labor force comprises 2.09 million individuals who are either employed or unemployed out of the estimated 3.25 million population aged 15 and over.

The region's employment rate increased to an impressive 97% in October 2022, a significant increase from 95.5% in July 2022. 

This translates to 2.03 million employed persons out of the 2.09 million individuals in the labor force. This figure marks a significant rise of 16,000 employed individuals compared to the 2.01 million employed persons reported in July 2022 and a staggering 255,000 increase from the estimated 1.77 million employed individuals in October 2021.

Highlights of Eastern Visayas’ Labor Force Statistics: October 2022 (Preliminary) Eastern Visayas registered a Labor...

Posted by Philippine Statistics Authority - Eastern Visayas on Friday, January 27, 2023

Additionally, the unemployment rate in Eastern Visayas continued to decline, dropping from 4.5% in July 2022 to a remarkable 3.0% in October 2022. 

This equates to around 63,000 individuals in the labor force in October 2022, a decrease of 33,000 unemployed individuals compared to July 2022 and 84,000 fewer than the 146,000 unemployed persons recorded in October 2021.

However, despite the positive trend in employment and decrease in unemployment, Eastern Visayas still needs to address the issue of underemployment. Underemployment refers to employed individuals seeking additional work hours or a new job with longer hours. 

In October 2022, the region recorded an underemployment rate of 22.4%, equivalent to 454,000 individuals out of the 2.03 million employed individuals in the region. This figure marks a 6.4 percentage point increase from July 2022's rate of 16.0% and a 4.6 percentage point rise from the 17.8% underemployment rate recorded in October 2021.

These preliminary labor force statistics indicate a promising outlook for Eastern Visayas regarding employment and unemployment, but the region must still address underemployment. —iTacloban

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