The Philippine Statistics Authority (PSA) and the National Economic and Development Authority (NEDA) reported a decrease in the number of jobless Filipinos over the past year due to improved employment opportunities, specifically for the youth.

In a briefing on Wednesday, Aug. 9, National Statistician Dennis S. Mapa said the number of unemployed individuals aged 15 years and above decreased to 2.33 million last June compared to 2.99 million in the same month of 2022.

As a percentage of the total labor force, which comprises 51.17 million individuals actively seeking employment, the unemployment rate stood at 4.5 percent, a significant decline from the six percent joblessness rate recorded in June 2022.

Nevertheless, June posted an increase in the number of unemployed individuals compared to May's figure of 2.17 million, or a jobless rate of 4.3 percent.

Meanwhile, Mapa said the underemployment rate in June also showed improvement, decreasing to 12 percent from 12.6 percent in the same month of the previous year. However, it increased compared to May's rate of 11.7 percent.

According to the PSA, approximately 5.87 million were underemployed in June or employed Filipinos who expressed their desire for additional work hours in their current job, sought an additional job, or wished to secure a new job with longer hours of work.

In a separate statement, NEDA Secretary Arsenio M. Balisacan said the decrease in the number of unemployed Filipinos can be attributed to the enhanced employability of individuals in the labor market.

Notably, Balisacan cited that the employment rate among the youth reached 90.1 percent, equivalent to 6.45 million individuals, which is higher than the 88.2 percent recorded in June 2022.

Youth employment specifically refers to individuals aged 15 to 24 who are actively participating in the labor force and are employed.

“As the number of young workers continues to expand, the Marcos administration is exerting efforts to focus on training and upskilling to improve their employability for high-quality and high-paying jobs,” Balisacan said.

According to the 2022 National Demographic and Health Survey conducted by the PSA, Filipino women aged 15 to 49 years experienced a decline in the total fertility rate from 2.7 children per woman in 2017 to 1.9 children per woman in 2022.

Balisacan said this demographic shift has led to an overall increase in the working-age population (15-64 years old) over time, known as the demographic transition.

He further noted that when paired with increased investments in human capital and the availability of high-quality job opportunities, this transition can result in a demographic dividend.