04 Feb '12, 4am

Employment in Philippines up in 2011 but job satisfaction down

Employment in Philippines up in 2011 but job satisfaction down

MANILA - The good news is that more Filipinos had jobs in 2011 than in 2010 and the unemployment rate fell slightly to 7 per cent from 7.3, the National Statistics Office (NSO) said in a report released Thursday. The bad news, however, is that there were more workers in search of a second job or longer hours to earn more, as the underemployment rate grew from 18.8 per cent in 2011 to 19.3 per cent in 2011. The NSO said that about 2.8 million Filipinos were unemployed in 2011, which translated to an unemployment rate of 7 per cent for the year, compared to 2.9 million unemployed in 2010 when the unemployment rate was pegged at 7.3 per cent. Observers of the labor scene said the information showed that there has been no substantial improvement. "Many feel that the quality and type of their job do not allow them to earn more," said economist Dr. Cid L. Terosa of the Universit...

Full article: http://www.asiaone.com/Business/News/Story/A1Story2012020...

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