Ten thousand workers were added to the employed labor force in Catanduanes in 2021, resulting in an employment rate of 93.2%, the Philippine Statistics Authority (PSA) reported last week.
This represents an increase of 3.2 percent from the employment rate in 2020 and a decrease of 1.1 percent compared to that of 2019, the PSA Catanduanes Provincial Statistical Office stated.
In terms of magnitude, an increase of 10,000 employed persons was recorded from 2020 to 2021 or from 92,600 employed persons in 2020 to 102,600 in 2021.
Compared to the 2019 figure, there was an increase of 4,300 in the 2021 work force, it added.
On the other hand, the unemployment rate in Catanduanes decreased by 3.2 percent in 2021 compared to that of the previous year, dropping 10 percent in 2020 to 6.8 percent in 2021.
However, the 2021 unemployment rate is higher by 1.1 percent than the 5.7 percent recorded in 2019.
The agency also reported a decrease of 3,300 unemployed persons from 2020 to 2021, with just 7,000 considered unemployed in 2021. However, there was an increase of 1,100 if compared to the 5,900 unemployed persons in 2019.
The underemployment rate in Catanduanes was registered at 16.6 percent in 2021, which is 2.2 percent lower compared to the 18.8 percent recorded in 2020. In 2019, however, the underemployment rate was lower at 14.9 percent.
The underemployed refers to employed persons who desire to have additional hours of work in their present job or an additional job or have a new job with longer working hours.
In terms of magnitude, a decrease of 300 underemployed persons was accounted for in 2021 compared to 2020, from the 17,400 underemployed persons in the past year. In 2019, the figure was lower at 14,600.
As a result, the Labor Force Participation Rate (LFPR) in Catanduanes grew by 3.1 percent to 62.2 percent in 2021, which is equivalent to 110.1 thousand persons
In 2020, the LFPR was just 59.1 percent but slightly less than the 60.3 percent recorded in 2019.
The Labor Force Survey (LFS) is a nationwide monthly survey of households conducted by the Philippine Statistics Authority (PSA) to gather data on the demographic and socioeconomic characteristics of the population. The conduct of monthly labor force survey starting in 2018 led to the generation of the Provincial Labor Force data on employment, unemployment, underemployment and labor force participation rate.
The Labor Force refers to the population 15 years old and over who contribute to the production of goods and services in the country. It comprises the employed and unemployed.
The Employed consists of persons in the labor force who are reported either as at work or with a job or business although not at work. Persons at work are those who did some work, even for an hour during the reference period.
The Unemployed consists of persons in the labor force who are reported as (1) without work; and (2) currently available for work; and (3) seeking work or not seeking work because of the belief that no work is available, or awaiting results of previous job application, or because of temporary illness or disability, bad weather or waiting for rehire or job recall.
The Underemployed refers to the employed persons who express the desire to have additional hours of work in their present job or an additional job, or have a new job with longer working hours.
The Labor Force Participation Rate (LFPR) is the proportion of total labor force to the total household population 15 years and over.
Employment Rate refers to the proportion of employed persons to the total labor force while the Unemployment Rate is the proportion of unemployed persons to the total labor force.
On the other hand, the Underemployment Rate is the proportion of underemployed persons to total employed persons