Unemployment rate in WV spiked to 9.1% in January 2021 from 5.6% a year ago according to Philippine Statistics Authority-Aklan.
This figure translates to about 312, 900 unemployed persons, higher by 131, 095 compared to 181, 805 in January 2020.
In October 2020, unemployment rate in the region was pegged at 5.9% corresponding to 183, 990 persons.
This rate is equivalent to about 3.1 million employed persons out of the 3.4 million in the labor force in January 2021.
On the other hand, underemployment in WV clocked in at 21.1% of the total employed persons in January 2021, or about 659, 493 persons.
This is higher compared to January 2020 underemployment rate of 12.5% (or 405, 816 persons) and October 2020 with 12.9% (or 402, 284 persons).
Underemployment refers to employed persons who expressed 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 during the reference week.
Unemployment refers to all persons 15 years and over without work, looking for work, or currently available for work but not looking for it due to reasons such as tired, believed no work available, awaiting results of previous job application, temporary illness/disability, bad weather, waiting for rehire/job recall, and ECQ.
