MA.SOPHIA B.

BERANO

IV- CORINTHIAN

D.O.L.E The Department of Labor and Employment (DOLE) started as a small bureau in 1908. It became a department on December 8, 1933 with the passage of Act 4121. The DOLE is the national government agency mandated to formulate and implement policies and programs, and serve as the policy-advisory arm of the Executive Branch in the field of labor and employment. It consists of the Office of the Secretary, 7 bureaus, 6 services, 16 regional offices, 12 attached agencies and 38 overseas offices with a full manpower complement of 9,806. It operates on a current budget of Php 6.618 B and ranks 14th out of 21 departments. Labor Force In macroeconomic statistics, the labor force is the sum of all employed and unemployed adults. The Bureau of Labor Statistics estimates the approximate size of the labor force regularly. What is the Labor Force Participation Rate? The labor force participation rate is the percentage of working-age persons in an economy who: Are employed Are unemployed but looking for a job Typically "working-age persons" is defined as people between the ages of 16-64. People in those age groups who are not counted as participating in the labor force are typically students, homemakers, and persons under the age of 64 who are retired. In the United States the labor force participation rate is usually around 67-68%.

The employed population is made up of persons above a specified age who furnish the supply of labour for the production of goods and services. When measured for a short reference period (of one week or one day), it refers to all persons who worked for pay, profit or family gain during that period. It also includes all persons who had a job or enterprise but were absent from that job or enterprise during that period on a temporary basis: persons who during the reference period were sick, on vacation, maternity leave, strike or were temporarily laid off. The unemployed population is made up of persons above a specified age who are available to, but did not, furnish the supply of labor for the production of goods and services. When measured for a short reference period, it relates to all persons not in employment who would have accepted a suitable job or started an enterprise during the reference period if the opportunity arose, and who had actively looked for ways to obtain a job or start an enterprise in the near past. Underemployment refers to an employment situation that is insufficient in some important way for the worker, relative to a standard.Examples include holding a part-time job despite desiring full-time work, and over qualification, where the employee has education, experience, or skills beyond the requirements of the job. Employment Rate The percentage of the labor force that is employed. The employment rate is one of the economic indicators that economists examine to help understand the state of the economy. Underemployment Rate The underemployment rate includes people who aren't working or looking for work, but want a job, and those who are working part-time because they can't find a full-time position. The underemployment rate is higher percentage than the unemployment rate because it includes a broader group of workers than those who are counted as unemployed. Underemployed workers may be working, but not in the capacity or at the level they desire. A worker is considered underemployed when they are working at a job they are over-qualified for, working part-time when they would prefer full-time work, or working at a low-wage job when they could, if jobs were available, be working more hours.