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With an average annual growth rate of around 6 percent since 2010, the country has emerged as one of the fastest-growing economies in the world. The Philippines is a founding member of the United Nations, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit and the World Trade Organization.
This is a list of countries by unemployment rate.Methods of calculation and presentation of unemployment rate vary from country to country. Some countries count insured unemployed only, some count those in receipt of welfare benefit only, some count the disabled and other permanently unemployable people, some countries count those who choose (and are financially able) not to work, supported by ...
This is the lowest rate the Philippines enjoys since 1996, before the country suffered from the Asian Financial Crisis. After unemployment rate peaked in 2000, it has been on a steep decline by an average of 8.5% each year through to 2010. Out of this unemployed group of workers, 88% is roughly split between people who at least had a high ...
In China a full 78.3% of the urban labor force were employed in the public sector by 1978, the year the Chinese economic reform was launched, after which the rates dropped. Jin Zeng estimates the numbers were 56.4% in 1995 and 32.8% in 2003, [6] while other estimates are higher.
The Philippines’ debt went up to more than 200 percent of exports in the period from 1978 to 1991, so more than half the value of the country’s exports went to debt servicing, rather than imports. By contrast, Thailand and Korea, which did not borrow heavily despite the low interest rates of the early 1970s, fared better in the long-run.
In 2012, the unemployment rate went down to 4.6 percent after it being 5.0 percent in 2010. This translated to 48 thousand new jobs and was well above the target of 45 to 50 thousand new jobs per year. The underemployment rate eased to 26.2 percent in 2012 from 28 percent in 2010, but is still much higher than the end-of-plan target of 20 percent.
Full employment is a situation in which there is no cyclical or deficient-demand unemployment. [1] Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search for better ...
The unemployment rate decreased from 5.2 to 0.9 percent from 1978 to 1983, while employment was a problem, the latter tripling, in the same time period, from 10.2 to 29.0 percent. Concurrently, the labor force of the Philippines grew at an average 10.47 percent in 1970–1983.