Metro Manila (CNN Philippines, May 8) — The number of jobless Filipinos reached 2.42 million in March, down from the 2.47 million estimated a month prior, the Philippine Statistics Authority (PSA) reported on Monday.
This is equivalent to a national unemployment rate of 4.7%.During a briefing, National Statistician Dennis Mapa reiterated that the country’s unemployment situation has been improving since the second half of 2022 as the current administration ended tougher COVID-19 restrictions.Meanwhile, the number of persons in the labor force fell to 51 million from 51.27 million a month prior. This translates to a labor force participation rate at 66%, Mapa said.The country’s employment rate stood at 95.3%, or 48.58 million Filipinos with jobs.The number of underemployed Filipinos, on the other hand, was slashed to 5.44 million from February’s 6.29 million.“Ang increases sa employment between March 2022 and March 2023—1.61 million increases—ang substantial dito ay wages and salaried workers, unpaid family workers,” he said.[Translation: The increases in employment between March 2022 and March 2023—1.61 million increases—the substantial ones here are wages and salaried workers, unpaid family workers.]Citing the PSA data, Mapa said the year-on-year increase in employment was buoyed by services and industry sectors. Topping the list was transportation and storage with 533,000 additional jobs.Agriculture and forestry, however, logged the biggest drop in employment, shredding 607,000 jobs.
