NSO: employment, unemployment rates unchanged in Oct.

The employment rate in the Philippines was unchanged at 92.9 percent in October from the same month last year, while the unemployment rate at 7.1 percent was also unchanged in the same comparable period, the National Statistics Office said in a preliminary report Wednesday. “Out of the estimated 61.2 million population 15 years old and over in October 2010, around 39.3 million persons were reported to be in the labor force," the NSO said. “These figures placed the labor force participation rate (LFPR) in October 2010 at 64.2 percent, as compared to last year’s LFPR of 64 percent," the Statistics Office added. The NSO also reported the unemployment rate in October was at 7.1 percent, “which is the same as that recorded in October 2009." Metro Manila or the National Capital Region “posted the highest unemployment rate at 12.6 percent. The lowest was in Cagayan Valley at 2.6 percent," said Carmelita N. Ericta, the NSO administrator. “There were more unemployed males (63.3 percent) than females (36.7 percent). Almost half (49.3 percent) of the unemployed were in age group 15-24 years," the NSO reported. — VS, GMANews.TV