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Philippine Economic Statistical Data

Employment Statistics of the


Philippines
(as of Oct. 2018)
Employment Statistics of the
Philippines
(as of January 2019)
Unemployment Rate of the Philippines
(as of Jan. 2019)
Average Family Income, Average Family
Expenditure and Gini Coefficient, Philippines:
(In Thousand Pesos)
Selected Indicators 2015 2016
Number of families (In thousands 22,730 21,426
Gini Coefficient 0.4439 0.4605
At 2015 Prices
Average family income 267 235
Average family expenditure 215 193
Average savings 52 42
At 2006 Prices (
CPI:2015=141.52012=130.1)
Average family income 189 180
Average family expenditure 152 148
Average savings 37 32
• LABOR MIGRATION, which began
as a temporary solution to the
country's economic woes, continues
to play a critical role in the Philippine
economy. ... Ask any Filipino, and
chances are, he or she is related to
an overseas Filipino worker (OFW) or
knows somebody who is an OFW.
Dec 16, 2008
• Macroeconomics – studies the relationship among
broad economic aggregates – national income,
national output, bank deposits, investments, etc.
Types of Economic Systems:
1. Capitalism (Market Economy) – is an economic
system mainly characterized by private
individuals owning and operating the majority of
the businesses that produce goods and services.
Characteristics of Capitalism:
1. Resources are privately owned
2. Economic decisions and means of
production are made by private owners
3. Factors of production are owned and
controlled by individuals
4. People are free to produce goods and
services to meet the demand of
consumers
Rights of Capitalism (Market Economy):
1. Right to own private property and the right of
inheritance for the heirs.
2. The right to earn profits and dispose them as they
wish.
3. The right to engage in business and determine how
they will operate.
4.People have the freedom to choose what occupation
to undertake, where to establish their residences,
and what products and services to buy, etc.
ECONOMIC SYSTEMS…
2. Communism (Command Economy) – is a society in
which the government owns all the nation’s
resources.
• The decision on what goods and services
to produce, how they will be produced,
and how they will be distributed are
determined by the government
3. Socialism (Socialist Economy) –
is an economic
system wherein key enterprises are owned
by the state.
Socialism….
• The government owns and operates the basic
industries
Example: telecommunications, water system,
transport
Similarity between Communism and Socialism:
• The decision on:
a. what goods and services to produce,
b. how they will be produced, and
c. how they will be distributed
> are determined by the government
Economic Systems…
4. Mixed Economies – is one that has
elements from more than one economic
system.
• It contains both private and state enterprise.
• Is a mixture of the market system
(capitalism) the command system
(communism).
Example: Philippine economy