Employment rate in Eastern Visayas in October 2020 was estimated at 94.7 percent, the second highest among regions in the country (Table 1). This figure is the highest reported in Eastern Visayas following COVID-19 pandemic-induced lockdowns in April 2020 (85.7 percent) and July 2020 (91.9 percent). However, it is 1.1 percentage points lower than the 95.8 percent employment rate in the same period last year. Employment rate is the proportion of employed persons to total labor force.
Out of the estimated 3.1 million population 15 years old and over in October 2020, about 1.8 million were economically active or in the labor force. This number translates to a Labor Force Participation Rate (LFPR) of 56.2 percent which is 2.5 percentage points lower than the 58.7 percent LFPR in October 2019. The latest LFPR is the same with the figure reported in April 2020.
The underemployed persons or those employed persons who express the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer working hours was estimated at 355 thousand. This is equal to an underemployment rate of 21.2 percent, same as the figure reported in July 2020 but higher than the 16.4 percent recorded a year ago. The region had the third highest underemployment rate in the country.
Meanwhile, about 89 thousand persons in the labor force were unemployed in October 2020. This translates to an unemployment rate of 5.3 percent, the lowest reported this year although slightly higher than the 4.2 percent unemployment rate in the same period in 2019. This figure ranked Eastern Visayas as the region with the second lowest unemployment rate in the country. Unemployment rate is the proportion of unemployed persons to total labor force. Unemployed persons are persons in the labor force who are reported as without work; currently available for work; and seeking work or not seeking work.
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