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Just how good is unemployment as a measure of welfare?

Author

Listed:
  • Emmanuel S. de Dios

    (UP School of Economics, Diliman, Quezon City)

  • Katrina Dinglasan

    (UP School of Economics, Diliman, Quezon City)

Abstract

The government is rightly concerned with employment generation to make growth inclusive. The use of the open unemployment rate to measure its success, however, is misplaced. In a developing country with a large informal sector and in the absence of unemployment insurance, open unemployment is primarily a middle-class phenomenon: the unemployed are not predominantly poor, and the poor are not predominantly unemployed. Measures of productivity and shifts of labor across sectors may contain more information.

Suggested Citation

  • Emmanuel S. de Dios & Katrina Dinglasan, . "Just how good is unemployment as a measure of welfare?," PCED Policy Notes, Philippine Center for Economic Development.
    • Handle: RePEc:phs:pcedpn:201306
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    File URL: http://www.pced.gov.ph/wp-content/uploads/2014/06/PolicyNotes6vers2_final.pdf
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