Labstat Updates
The 2006 EMPLOYMENT SITUATION (The Year in Review)
(Vol. 11 No. 1)

Overview

          The labor market remained resilient in 2006, notwithstanding the steep increase in world prices for oil products that resulted in higher inflation rate, and the series of typhoons that hit the country in the second half of the year. On the average, employment level grew by 2.0% - driven by the strong performance of the service sector (3.1%) and modest expansion in agriculture, fishery and forestry sector (1.6%). The quality of employment was mixed - wage and salary employment grew by 2.9% but was negated by the small decline in full-time employment (-0.6%). Also, the rate of underemployment continued to rise though at slower pace than last year.

          Unless indicated, the employment figures cited in this report represent the average of the four (4) rounds of the Labor Force Survey (LFS) conducted by the National Statistics Office (NSO) in the months of January, April, July and October.

Employment

          Employment growth was almost equally spread over the year except in the fourth quarter when growth rate slowed down. Specifically, employment level rose year-on-year by 2.3% (+743,000) in January, 2.5% (+803,000) in April and 2.3% (+736,000) in July then dipped to 0.9% (+310,000) in October, registering the lowest gain for the year. This trend is a complete reversal in 2005 when employment peak during the fourth quarter as shown in Table 1.

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