Eastern Visayas achieved its highest employment rate in four years in 2024, reaching 97.2%, according to preliminary data from the Philippine Statistics Authority (PSA).
This marks a one-percentage point improvement from 96.2% in 2023 and a notable recovery from the 93.4% rate posted in 2021.
The region’s labor force participation rate (LFPR) slightly dipped from 63.8% in 2023 to 63.6% in 2024, translating to around 2.13 million persons engaged in the labor market out of a total 3.34 million residents aged 15 and above.
Despite the smaller labor force share, the number of employed individuals rose to 2.07 million.
Unemployment fell sharply to 2.8% in 2024—the lowest in the past four years—down from 3.8% in 2023 and significantly below the pandemic-affected 6.7% recorded in 2021.
This improvement was broad-based across provinces, with Samar and Southern Leyte registering the largest drops in joblessness, at 2.5 and 2.2 percentage points, respectively.
However, the underemployment rate—a measure of workers wanting more hours or better jobs—remains a lingering challenge. Eastern Visayas recorded 16.2% underemployment in 2024, only slightly down from 17.3% in 2023.
This means roughly 336,000 employed persons are still seeking additional work. While lower than the 20.9% rate in 2021, the figure suggests that job quality has not kept pace with job quantity.
Data also shows mixed progress. Eastern Samar recorded the largest drop in underemployment, falling by 5.6 percentage points to 11.8%.
In contrast, Biliran and Leyte saw increases, reaching 31.7% and 18.9%, respectively—well above the regional average.
Compared to other regions, Eastern Visayas’ 97.2% employment rate in 2024 outperformed the national average of 96.2% and matched Central Luzon’s.
Yet, the region’s underemployment rate is higher than the national figure of 11.9%, indicating a need for more stable and higher-paying opportunities.
While it is true that Eastern Visayas is generating jobs at a record pace, a significant share of these positions may be low-pay or part-time, prompting workers to seek additional income.
Economists warn that sustained growth requires shifting focus from simply increasing employment to improving job quality through skills development, industry diversification, and investments in higher-value sectors.
With preliminary 2024 data showing both strengths and weaknesses, policymakers in Eastern Visayas face a clear challenge—maintaining high employment while ensuring that work is both sufficient and sustainable for the region’s workforce.
#WeTakeAStand #OpinYon #OpinYonNews #PSA