Analysis of the Macroeconomic Environment in the Philippines Essay

Today, as of the second quarter of the 2013, the Philippines sees unemployment at the rate of 7.5%, an profit from the 1st quarters 7.1%. purge with this slight upward run, the country is good-tempered below its average in the knightly decade of 8.6%.In the current results of the April 2013 Labor Force Survey (LFS), the National Statistics Office reported that the tote up of agricultural workers decreased from an estimated 12.47 million in April 2012 to 11.84 million in April 2013, this, mostly due to extreme weather conditions. Combined with the annex in the turn of graduates in 2013, this has contributed to our growing labor force.The total number of employed persons in April of 2013 is estimated at 37 819 million compared to 37 840 million in April of 2012. plot employment in the agriculture sector had redactped, employment in the persistence sector and services sector grew by 3.8 % and by 1.9 %, respectively Laborers and hopeless workers comprised the biggest group m aking up one-third, 32.6 % of the total employed persons. Further statistics demo the overall unemployment picture to be the ff Males make 61.4 % while females, 38.6 % of the unemployed. By age, 15-24 do up 48.2% of the total unemployed, while the age group 25-34, made 30.9%. In education, about one-fifth, 21.3 % of the unemployed were college graduates, 14.6 % were college undergraduates, and 31.7 % were high prepare graduates.Minimum wage in the Philippines as of November 1, 2012 to the present is at the highest in the NCR at P456. These can be further segmented into regions and sectors. Overall wages in the Philippines has been slightly lessen (drop 236 index points as of data presented as of 2012). Even with this, we see in a slow decrease in overall wages in the country (Figure 6)Poverty in the Philippines has shown an upward trend in the past few years moving from 6703 in 2006 to 9385 last 2012. At the alike time, the poverty incidence among families moved slightly downwa rd to 22.3in 2012 from a 23.4 in 2006.Overall, in the past few years we have seen some improvements in terms of overall employment the Philippines Employed individuals are seeing movement upward as well as seeing an overall increase in available jobs. Even with the available work in the Philippines, we understood see those with vocational training and college training edging high school graduates for the opportunities. Amidst these trends, the wages have fluctuated from being flat or slightly decreasing. Even with this, GDP has steadily increased throughout the years. (as well as gross national product and GDP per capita) We have seen some good economic growth in the Philippines in the past few years, eve n with the slight drop in wages and increased numbers in underemployment. We can indeed suggest that wages and economic performance might not be as correlated as we think.