(CNN Philippines) — The government is right on track with its goal to provide more Filipinos with jobs, according to the latest Labor Force Survey (LFS) from the National Economic and Development Authority (NEDA).
In a statement issued on Tuesday (June 9), NEDA said unemployment and underemployment numbers fell in April 2015, indicating a “sustained favorable situation in the job market owing to the continued strength of the economy.”
The Philippine Statistics Authority (PSA) said the unemployment rate went down to 6.4% in April 2015 compared to 7% in the same month last year.
This brings down the number of unemployed Filipinos to 2.68 million from last year’s 2.92 million.
The number of underemployed Filipinos also fell to 17.8% compared to 18.2% – 6.98 million people down from 7.03 million last year.
The PSA added the number of Filipinos holding more stable jobs that give better pay rose by 1.9%, reaching 22.6 million.
The report said the National Capital Region posted the highest unemployment rate at 9.3%, while the Autonomous Region in Muslim Mindanao posted the lowest at 3.2%.
According to Economic Planning Secretary Arsenio Balisacan, “If these developments are sustained for the rest of the year, the full-year average will likely surpass the Philippine Development Plan target of 6.6% to 6.8% for the unemployment rate and 18% for the underemployment rate in 2015.”
He added that the improvements were “broad-based” where 13 out of the 17 regions, including the National Capital Region, saw a decline in unemployment numbers.
There was, however, a slight setback in the agriculture sector due to the effects of El Niño.
Balisacan said to improve conditions in this sector, the government must “continue its interventions in the agriculture sector and pursue adequate infrastructure spending to boost economic growth and employment.”
Balisacan added: “To continue the gains, we need to speed-up the implementation of key reforms such as public infrastructure development, reducing investment restrictions, increasing competition, reducing the cost of doing business. If implemented, these can help lift the key constraints to sustained, job-generating growth.”
The PSA notes that the figures noted in the report excludes Leyte due to the large number of households displaced by Typhoon Yolanda.
