Topics: Unemployment, Economics, Inflation Pages: 2 (814 words) Published: January 16, 2013
This is my article: http://www.philstar.com/breaking-news/2012/06/16/817709/unemployment-rate-eases-april-job-shortage-remains I have 2 articles but I forgot the other one.
Unemployment remained high in the Philippines compared to the other countries in the region. Despite the relatively fast employment growth, it is not sufficient due to the growing population and the increasing labour force participation (labour force participation went up by 0.5% from April 2011 to April 2012). Another factor causing this is the lack of jobs provided, which is mainly because of the lack of investors and businesses. When there is a growing population, there is no doubt that there will be an increase in the demand of goods, but due to the lack of investors and businesses, it will only result in an even lower Gross Domestic Product (GDP). Labour force refers to all individuals who are 15 years old and above, either working or looking for a job. It is somewhat difficult to measure the unemployment rate in the Philippines considering the government cannot fully assess every individual, especially people living in rural places. Citizens working in rural places are mostly farmers so they are considered as seasonally unemployed, which means there is no income when they are in the growing season. There are also quite a few illegal activities and unreported activities going on around in the Philippines, both in urban and rural areas, causing the unemployment rate to be overestimated. GDP ignores underground economy, which means productions with no official records are excluded. Underground economy describes all market activity that goes unreported are either illegal or just wants to evade taxes on otherwise legal activity. This mostly happen in their capital city, Metro Manila, it has the highest population and job opportunities, but still not enough to sustain the demand for jobs. Thus, Manila has the highest unemployment rate, 10.4%, compared to the other parts of the Philippines....
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