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Bacolod City, PhilippinesTuesday, August 23, 2011
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Unemployment down
to 7.2 percent: PESO

The unemployment rate in Bacolod City dropped to 7.2 percent as of April 11 compared to last year of the same phase with 8 percent, while employment rate increased to 92.8 percent from 92 percent of the same phase, Moises de la Cruz, Public Employment Service Office manager said yesterday.

De la Cruz said the unemployment rate decreased because more investors are coming Bacolod City and more job fairs were conducted by PESO that provide local and overseas jobs.

He said that, based on the National Statistics Office records, the population of Bacolod is 531,000 and 64.2 percent, or 340,902, comprises the labor force. From the 340,902 labor force, 92.8 percent or 316,357 are working.

However, as the employment rate increases, the underemployment rate also increases to 19.2 percent as of April 2011 from 17.8 percent of the same phase last year, de la Cruz said. Underemployment means people are employed on jobs not suited for their qualities and specialization, he added.

De la Cruz explained that more graduates are accepting jobs not fit for their qualifications just to be employed. But PESO is intensifying its career guidance coaching for all fourth year high school students to give them possible jobs by the time they graduate in college, to avoid underemployment or job mismatch, he said.

Meanwhile, LEAD Resources will be at PESO on Saturday and Sunday to screen applicants for Dubai to work as service crew, masons, carpenters, painters, and tile and marble setters.*LTG



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