Family Income and Expenditure
The average annual family income in the Philippines and Region 02 shows an increasing trend from 2003 to 2015. Although there is no data for the year 2003 and 2015 for Nueva Vizcaya, it shows that the average annual family income of Vizcayanos increased from Php168, 000 in 2006 to PhpP220, 000 in 2012. The average income in the province is slightly higher than that of the national and regional levels. Provincial data are not available for recent years but using employment rate as basis, it can be deduced that family income is improving since the employment rate improved by 2.2% from 95.4% in 2011 to 97.6% in 2015.
Main source of income are from salaries and wages, accounting to 38% of the total family income. While entrepreneurial activities account for 28% of income generated. In terms of sectoral distribution, 40% of these earnings are from economic activities in the agricultural sector (FEIS-PSA, 2015).
The average annual family income and expenditure shows a similar trend with that of the national and the province. It could be observed that the annual average expenditure of each family in the national and regional increased from 2003 to 2015.
Table F-1: Average Annual Family Income and Expenditure, 2003-2015
| Year | Philippines | Region 02 | Nueva Vizcaya | |||
| Average Income | Average Expenditure | Average Income | Average Expenditure | Average Income | Average Expenditure | |
| 2015 | 267,000 | 215,000 | 237,000 | 162,000 | – | – |
| 2012 | 235,000 | 193,000 | 195,000 | 140,000 | 220,000 | 162,000 |
| 2009 | 206,000 | 176,000 | 181,000 | 141,000 | 214,000 | 180,000 |
| 2006 | 173,000 | 147,000 | 143,000 | 118,000 | 168,000 | 153,000 |
| 2003 | 148,000 | 124,000 | 126,000 | 99,000 | – | – |
Source: Family Income and Expenditure Survey (FEIS), PSA 2003, 2006, 2009, 2012, 2015
Note: FIES is a nationwide survey of households undertaken every three years. No provincial data available in 2003 and 2015 FEIS.
In terms of spending pattern, food still accounts for the largest share at 42.8% of monthly income. The expenditure on housing, water, electricity, gas and other fuels was the second largest spending at 20.7%. But among families in the bottom 30% per capita income group, expenses on food accounted for 62.3% of the total family expenditure, followed by expenditure on housing, water, electricity, gas and other fuels at 15.3%. In contrast, families in the upper 70% per capita income group, have 39.7% of their total expenditure on food, and 21.5% on housing, water, electricity, gas and other fuels (PSA 2013-186).
3.2 Labor and Employment
In 2011, the labor force participation rate in the province was 72.7%, 8.1% higher than that of the national’s figure of 64.6%. From the said year, the labor force participation rate of Nueva Vizcaya dropped for 3 consecutive years then increased in 2015 contrary to the national which declined from 2011 to 2013 and escalated in the next year then dropped in 2015.
Nueva Vizcaya generally registered an employment rate higher than the national’s. The highest provincial employment rate was recorded in 2013 at 98.2% which far exceeds the national’s figure of 92.8% by 5.4% disparity. Since the unemployment rate is inversely proportional to the employment rate, NV’s 2013 unemployment rate is at its lowest with only 1.8% in comparison to the national level with 7.2% rate. On the other hand, the number of underemployed persons in the Philippines accounted to more than 18% from year 2011 to 2015 with year 2012 having the highest underemployment rate of 20%. Note that there is no provincial underemployment rate recorded for the past 5 years.
