NSO's July figures say unemployed at 15,000

The latest available labor force survey of the National Statistics Office (NSO) show that the ranks of Catanduanes' unemployed persons have swelled to 15,000, nearly double the 1999 figure.

In the highlights of the July 2000 survey released last week, the NSO estimated the provincial unemployment rate at 14.3 percent, up from the January and April 2000 figures of 7.1 percent and 12.8 percent, respectively.

As a result, the employment rate was pegged at 85.7 percent, down by 6.1 percent points over the 91.8 percent recorded in the same period last year. It was also 1.5 points lower than the rate recorded three months ago.

On the other hand, the number of underemployed workers was placed at 20 percent, lower by 5.5 percentage points compared to last year.

The same survey also found that the labor force population stood at 103,000 persons, higher by a thousand than last year's figure, while the number of persons not in the labor force like housewives, students, disabled and retired persons and those who did not look for work was pegged at 52,000, up by 3,000 over last year's figure.

The labor force participation rate, or the proportion of those in the labor force to the total population 15 years old and over, went down to 66.4 percent from 67.6 percent a year ago.

Meanwhile, the provincial inflation rate has declined to just 1.4 percent in October 2000, significant lower than the 9.7 percent recorded a year ago.

Inflationary effects were noticed in Miscellaneous, Services, Clothing, Fuel, Light & Water, and Food, Beverages & Tobacco. The Consumer Price Index (CPI) decreased from 163.1 in September 2000 to 162.6 last month.

As a result, the purchasing power of the peso inched up by one centavos, from P0.61 to P0.62. This means the 1994 peso is now worth just 61 centavos. (NSO Catanduanes)