By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines – Millions of working-age Filipinos may become a “demographic burden” instead of contributing to economic growth if left with no opportunities for a good quality job, the Commission on Population and Development (CPD) said on Friday.
In a statement, the agency called for continuing investments into the country’s human capital as it noted that the unemployment rate increased to 5 percent in March this year from 3.9 percent in the same period last year.
Citing data from the latest labor force survey, the CPD pointed out that there are currently 51.65 million Filipinos aged 15 years old and above who are part of the labor force, of which 49.07 million were employed while 6.03 million were underemployed.
On the other hand, there were 2.59 million Filipinos who remained unemployed in March this year, higher than the 1.93 million recorded in the same period last year.
