Labor Force Participation Rate was estimated at 63.1 percent
Based on the October 2021 Labor Force Survey (LFS), the total population of 15 years old and over in the llocos Region was estimated at 3.6 million individual. Out of this population,2.3 million persons are in the labor force. This translates to a 63.1 percent Labor Force Participation Rate (LFPR), higher by 0.5 percentage point from the average national LFPR of 62.6 percent.
Across regions, Northern Mindanao (69.4 percent) has the highest LFPR followed by SOCCSKSARGEN (68.2 percent) and Cagayan Valley (66.4 percent). The llocos Region ranked eighth among the regions in terms of LFPR (Figure 1).
About 91.6 percent in the Iabor force were employed in October 2021
The employment rate in the Philippines in October 2021 posted a value of 92.6 percent, higher than the employment rate in October 2020 (91.3 percent), but lower than the 93.1 percent employment rate in July 2021.
The employment rate in the llocos Region increased to 91.6 percent in October 2021 from the 88.5 percent employment rate in October 2020. However, this is lowerthan the 93.6 percentemployment rate in July 2021.
ln terms of numbers, about 2.1 million persons aged 15 years old and over were employed out of the 2.3 million persons who were in the labor force in October 2021.
Underemployment rate was estimated at 15.5 percent
Underemployed or employed persons in llocos Region who expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work was recorded at 15.5 percent in October 2021. This was lower than the 16.7 percent reported in October 2O2O and the 21.3 percent underemployment rate in July 2021.
ln terms of magnitude, 325 thousand persons were underemployed in October 2021 .ln October 2020, there were 328 thousand underemployed persons and 431 thousand in July 2021.
Unemployed penson was recorded at 8.4 percent
Unemployed person includes those who were 15 years old and over without work, currently available for work, and seeking work. The unemployment rate of the region was estimated at 8.4 percent or 191 thousand unemployed persons. This was higher than the 7.4 percent national unemployment rate.
The unemployment rate in the region declined by 3.1 percentage points from the 11.5 percent unemployment rate in October 2020. However, it was higher than the 6.4 percent unemployment rate in July 2021 by 2.0 percentage points.
SGD. ATTY. SHEILA O. DE GUZMAN, CPA
Regional Director, RSSO I