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Economic Briefing by Cielito Habito
Economic Briefing by Cielito Habito
Economic Briefing by Cielito Habito
2002 3.1
2003 3.1
2004 5.5
2005 7.6
2006 6.2
2007 Target 4.0-5.0
2007 To Date 2.7
Jun-07 2.3
…although still higher than
most of our neighbors in 2006
Inflation Rates, Percent
6.3
7.0
Only Indonesia has a
6.0 worse inflation record
4.3
5.0
3.1 3.2
4.0
3.0 2.2
2.0
0.4
1.0
0.0
-1.2 -0.1
-1.0
-2.0
TWN CHI SIN KOR MAL THA RP INDO
Employment:
Improving Picture?
Latest Year Prev Year
Employment (NSO-LFS)
Period Ago Period Average
(Jan-Apr 2007)
Unemployment Rate (%) (Apr '07) (Apr '06) (Jan '07)
Old Definition -- --
New Definition 7.4 8.2 7.8 7.6
Jobs by Type ('000) Apr '07 Percent Apr '06 Percent Change
Wage & Salary Workers
Ateneo 17,224 Research
Center for Economic 51.1 and16,546 50.6
Development 678
…but the Latest
devil
Employment (NSO-LFS)
Year isPrev
in the
Year
Old Definition
Jobs by Sector Apr--2007 --
Apr 2006 New Jobs
New
Agri Definition 7.4
11,865 8.2 11,281 7.8 7.6
583
Agri, Hunting & For 10,280 9,842 438
Jobs Generated ('000) 1007 478 1515 1,278
Fishery 1,550 1,439 112
Agriculture 583 288 -38 266
Industry 5,258 5,232 26
Industry 26 -4 103 61
Manufacturing 3,067 3,172 -105
Services 431 195 1450 950
Mining 169 163 5
Utilities
Underemployment Rate (%) 135
18.9 25.4 131
21.5 4
20.2
Construction 1,854 1,733 121
Services 16,617 16,186 431
Jobs by Type ('000) Apr '07 Percent Apr '06 Percent Change
Wage & Salary Workers 17,224 51.1 16,546 50.6 678
Own Account Workers 12,067 35.8 12,262 37.5 (195)
Unpaid Family Workers 4,415 13.1 3,891 11.9 524
Profile of the Unemployed
• 2.7 million are unemployed under new
definition; about 4 million based on old
definition, i.e.+ frustrated jobseekers
• 6.4 million are underemployed; mostly
in agriculture
• Of the unemployed:
80% are within ages 15-35 years
61% never went beyond high school
2.0
0.0
2002 2003 2004 2005 2006
Year
Communication (10.1%)
• Spending side:
Government Consumption (13.1%)
Public Construction (16.9%)
Exports (9.1%)
Ateneo Center for Economic Research and Development
Bullish Markets, Empty Pockets:
Why the “Disconnect”?
15.0
11.4
10.8
10.0
4.2
5.0 3.3
0.6
0.0
- 0.5
- 5.0
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