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The payments are sourced from the country's Social Security System (SSS). [1] The benefits are not dispensed as a loan and thus does not incur additional fees to the claimant. [3] Until 2018, there was no unemployment benefit scheme for private employees.
As of 2020, the labor force participation rate was 57%, [3] a relatively large percentage that belongs to the upper-third in the world ranking. The Philippines ranks relatively low in its employed worker-to-GDP ratio with only $8,260 [5] which hints about the country's productivity issues.
Misery index (economics) The misery index is an economic indicator, created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. It is assumed that both a higher rate of unemployment and a worsening of ...
Robert Asaro-Angelo labor leader and commissioner of the New Jersey Department of Labor and Workforce Development at the daily briefing in Trenton NJ on 5/7/2020
[2] [3] Unemployment rates are often seasonally adjusted to avoid variations that depend on time of year. [2] [3] Employment rate as a percentage of total population in working age is sometimes used instead of unemployment rate. For purposes of comparison, harmonized values are published by International Labour Organization (ILO) and by OECD.
New Jersey’s minimum wage is $15.13 an hour — the highest it’s ever been. In February 2019, when Gov. Phil Murphy signed a bill gradually raising the minimum wage, $15 an hour had the same ...
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Beveridge curve. A Beveridge curve, or UV curve, is a graphical representation of the relationship between unemployment and the job vacancy rate, the number of unfilled jobs expressed as a proportion of the labour force. It typically has vacancies on the vertical axis and unemployment on the horizontal. The curve, named after William Beveridge ...