Metro Manila (CNN Philippines, July 7) — The country logged 2.17 million people without work in May, lower than the 2.26 million estimated a month prior, data from the Philippine Statistics Authority showed Friday.
This translates to a national unemployment rate of 4.3%, the second lowest since April 2005.
National Statistician Dennis Mapa told a briefing that the labor force participation rate also improved to 65.3%, with 50.43 million persons aged 15 and over who either had jobs or were unemployed in the period.The employment rate also increased to 95.7% or 48.26 million employed Filipinos.The number of those who were employed but sought to work more hours or find a new job stood at 5.44 million.Mapa said the drop in unemployment numbers was due to seasonality, which is usually highlighted during the last quarter of every year.“Usually may another kick sa second quarter. You have travels… kaya may pagtaas sa (that’s why there’s an increase in) services activities,” he explained.He also reiterated that the labor market has been improving since mid-2022 after the current administration’s move to end COVID-19 lockdowns, allowing more industries to fully operate.According to Mapa, the services sector led with the biggest share in employment at 58.8% in May. It was followed by the agriculture and industry sectors.
