Metro Manila (CNN Philippines, December 7) — The number of jobless Filipinos in October dropped to about 2.09 million, with the employment rate the highest since April 2005, data from the Philippine Statistics Authority (PSA) showed.
During a briefing on Thursday, the PSA said the latest figure was a decrease from September’s 2.26 million.
The agency said this translates to a national unemployment rate of 4.2%.
National Statistician Dennis Mapa attributed the improvement to the “substantial increase” in both the labor force participation rate and employment rate.
Mapa has said local employers usually hire more staff during the fourth quarter period leading to the Christmas rush.
“October being the start of the first month of last quarter, palagi naman nating nakikita na tuwing holiday season nagkakaroon tayo ng additional economic activities at na-absorb ang karamihan ng nasa labor force,” he said.
[Translation: We always see that during the holiday season, there are additional economic activities, and most of those in the labor force are absorbed.]
In October, Filipinos in the labor force reached 49.89 million.
The country’s employment rate was also the highest since April 2005 at 95.8%, translating to 47.8 million employed persons.
Meanwhile, those underemployed, or individuals seeking to earn more or secure better jobs with longer working hours, decreased to 5.6 million in October.
The Bangsamoro Autonomous Region had the highest labor force participation rate at 74%, while the Zamboanga Peninsula recorded the lowest at 59.7%.
For the unemployment situation, Metro Manila had the highest unemployment rate at 5.4%, while the Davao Region posted the lowest at 2.9%
The following sectors recorded the largest increase in employment in October, based on quarter-on-quarter data:
– Wholesale and retail trade; repair of motor vehicles and motorcycles (1.46 million)
– Agriculture and forestry (1.09 million)
– Accommodation and food service activities (236,000)
– Public administration and defense; compulsory social security (211,000)
– Education (157,000)
