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Just how good is unemployment as a measure of welfare? A note

Philippine Review of Economics

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Title Just how good is unemployment as a measure of welfare? A note
 
Creator de Dios, Emmanuel S.; University of the Philippines School of Economics
Dinglasan, Katrina; University of the Philippines School of Economics
 
Subject unemployment, underemployment, labor force, welfare, poverty, development economics
 
Description Governments are rightly concerned with employment generation to make growth inclusive. The use of the open unemployment rate to measure success, however, may be misplaced. In a developing country like the Philippines, 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 and be more welfare-relevant. JEL classification: J21, I32, O15
 
Publisher Philippine Review of Economics
 
Contributor —
 
Date 2015-12-31
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Identifier http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/932
 
Source Philippine Review of Economics; Vol 52, No 2 (2015); 234-245
1655-1516
 
Language en
 
Rights Copyright (c) 2017 Philippine Review of Economics