The Philippine Statistics Authority has begun conducting the July 2021 Labor Force Survey (LFS) and the 2021 Family Income and Expenditure Survey (FIES).
A total of 116 sample barangays with 1, 547 sample households will be interviewed in the province by Statistical Researchers from July 8 to 31.
The LFS is a nationwide quarterly survey of households that gathers data on the demographic and socio-economic characteristics of the population.
The LFS seeks to provide a quantitative framework in the preparation of plans and formulation of policies affecting the labor market. Moreover, it also provides statistics on levels and trends of employment, unemployment and underemployment in the country and regions.
Results of May 2021 LFS shows that the country recorded an employment rate of 92.3% which is higher compared to recorded 91.3% in April 2021 or an increase of 1.0%.
Unemployment rate recorded a decrease of 1.0% or from 8.7% in April 2021 to 7.7% in May 2021 while underemployment rate also recorded a decrease of 4.9% or from 17.2% in April 2021 to 12.3% in May 2021.
The labor force participation rate (LFPR) in May 2021 was placed at 64.6 percent, equivalent to 48.45 million individuals who were either employed or unemployed. This is higher than the LFPR reported in the months of January (60.5%), February (63.5%), and April (63.2%) of 2021.
On the other hand, the Family Income and Expenditure Survey (FIES) is a survey on family income and expenditure of households.
As the main source of data on family income and expenditure, the FIES aims to gather data on family income, sources of income, family expenditure and related information affecting family income and expenditure levels and patterns in the Philippines.
It aslo aims to determine the income distribution, levels of living and spending patterns and degree of inequality among families and to provide benchmark information to update the weights used in the estimation of Consumer Price Index (CPI). Lastly, it will also provide inputs in the estimation of the country’s poverty threshold and incidnece.
The following are the highlights of the results of 2018 FIES:
In 2018, the results showed that Filipino families had higher earnings with Php 313 thousand average annual income compared to estimated average in 2015 which was Php 268 thousand;
Similarly, the average annual family expenditure of families increased from Php 216 thousand in 2015 to Php 239 thousand in 2018;
Adjusting for the inflation between 2015 and 2018 using 2012 prices, the average annual family income in 2018 is valued at Php 267 thousand while the average annual family expenditure in 2018 is valued at Php 203 thousand.
The authority and mandate of the PSA to conduct the survey emanates from R.A. 10625. Like any other surveys undertaken by the PSA, the data to be gathered in the said survey are for statistical purposes only and will be published in summary forms. Information obtained from the respondents are held STRICTLY CONFIDENTIAL and are not used for investigation, taxation and law enforcement purposes and are not be divulged to any person except authorized PSA personnel acting in the performance of their duties.