What is the employment rate in 2019 prior to the COVID 19 Pandemic?
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What is the employment rate in 2019 prior to the COVID 19 Pandemic?
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After a downward trend for unemployment since 2005 and a 14-year-low rate in October 2019, the coronavirus pandemic caused unemployment to shoot to a record-high 17.7% in April 2020, more than triple the unemployment rate in April 2019. This means almost 1 in every 5 persons in the labor force are unemployed.
Economists say the actual number of jobless persons may be much higher, accounting for those excluded from the labor force as well as potential entrants who were hindered by the lockdown.
For employment recovery, economists urge the government to support the agricultural sector and others with job-supporting potential, provide aid to workers and businesses, and adapt the Build, Build, Build program to strengthen pandemic resilience.
The coronavirus pandemic caused the highest unemployment rate in the country on record, leaving around 7.3 million Filipinos jobless.
The virus outbreak offset the 14-year-low unemployment and underemployment rates achieved in the first half of President Rodrigo Duterte's 4th year in office, particularly in October 2019. The unemployment rate decreased from 5.4% in July 2019 to 4.5% in October 2019, the lowest across all quarters since 2005.
COVID-19 causes exponential unemployment increase
The coronavirus outbreak caused the unemployment rate to spike to 17.7% in April 2020, the highest unemployment rate since the earliest comparable data in 2005, based on the preliminary results of the Philippine Statistics Authority (PSA). This is more than triple the 5.1% unemployment rate recorded in April 2019.
Answer:
The Current Employment Statistics (CES) survey, also known as the payroll survey, publishes estimates of employment, hours, and earnings at national, state and metropolitan area levels on a monthly basis. If you have questions, contact the CES staff.
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Explanation:
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