Official Publication of the Philippine Information Agency Bicol Regional Office, in cooperation with the RIAC-REDIRAS - RDC Bicol

Tuesday, August 9, 2016

DOLE boasts improved employment rate of Bicol

Julius Embile

LEGAZPI CITY, August 9 (PIA) – “We have almost a 100% employment rate and it is even more notable that we have the second lowest unemployment rate in the entire country!” stated Atty. Ma. Karina Peridal-Trayvilla, OIC regional director of the Department of Labor and Employment of the Bicol region (DOLE-5).

This was upon receiving the news that Bicol have had a significant boost in its employment rate this year, based on the latest report released by the Philippine Statistics Authority (PSA).

 Along with Trayvilla, the rest of DOLE-5 has been greatly elated as the Bicol region climbs the ranking as the second best in the country in terms of increased employment rate and reduced unemployment standing. Region 2 nabs the rank-one spot, but with only a ‘point seven’ (.7) margin from Region 5.

As per DOLE, the said statistical data was received by their office last July when PSA-Bicol’s regional director Cynthia Perdiz released the official economic standing of the region. The date gathered by PSA’s latest survey showed Bicol’s employment rate rocketing from 95.4% of last year’s first quarter to 96.9% of this year’s first quarter.

The statistics also presented a considerable plummet of the unemployment rate, from 4.6% last year to 3.8% of this year.

DOLE further states that, of the estimated five million Bicolano population, 3.7 million are categorized in the working population which resulted to the rise of the Labor Force Participation Rate (LFPR) to 67%. This reflects a two points increase compared to last year’s 85.3% in LFPR.

Furthermore, DOLE translates a lowering of the poverty incidences in the region as a result of the increased employment rate, given the fact that most Bicolanos are actively earning.

Though they have missed being ranked first by just a hair-line, DOLE-5 states that “second place isn’t that bad” as they also recognize other opportunities needing much attention. For instance, ‘underemployment’, or those employed in jobs below their given skill sets, also increased from 29.3% last year to 33.6% this year.

In response, Trayvilla said: “We see this as a stepping stone and opportunity. Sooner or later, those underemployed will transition to better jobs.” (MAL/JBE-PIA5)

- See more at: http://news.pia.gov.ph/article/view/3301470730367/dole-boasts-improved-employment-rate-of-bicol#sthash.EoFRsdge.dpuf

No comments:

Post a Comment