In July, approximately 2.27 million Filipinos were unemployed, showing a decrease from the previous year.
The national unemployment rate reached 4.8%, the highest in the past five months.
The underemployment rate rose to 15.9% in July, indicating 7.10 million underemployed workers.
The employment rate slightly decreased to 95.2% in July compared to the previous month. However, it remained higher than the employment rate recorded in the same period last year.
The services sector accounted for 59.4% of employed individuals in July, followed by agriculture and industry sectors.
Industries such as transportation, administrative and support services, professional and technical activities, information and communication, and manufacturing experienced job growth.
Wholesale and retail trade, agriculture and forestry, public administration, arts and entertainment, and real estate activities saw significant job losses.
The government aims to prioritize the creation of high-quality and high-paying jobs for self-employed and unpaid family workers.
Efforts are being made to improve the business climate in the country to attract more investments and generate better employment opportunities.
2.27 million Filipinos jobless in July
At a glance
An estimated 2.27 million Filipinos found themselves without employment in July, the Philippine Statistics Authority (PSA) reported.
In a briefing on Friday, Sept. 8, National Statistician Dennis Mapa said the preliminary results of the PSA’s Labor Force Survey showed that the number of jobless Filipinos decreased by 329,000 from 2.6 million a year ago.
This translates to a national unemployment rate of 4.8 percent, the highest level in the past five months.
The underemployment rate, meanwhile, climbed to 15.9 percent in July from 12 percent a month earlier, meaning there were 7.10 million workers underemployed that month.
This was higher than the 13.8 percent underemployment rate recorded a year earlier.
Underemployment is when individuals work in jobs below their qualifications or desired level, including part-time work instead of full-time employment, or when they cannot find a job that suits their skills and expertise.
Meanwhile, the employment rate slightly decreased to 95.2 percent in July compared to 95.5 percent recorded in June.
However, this was higher than the 94.8 percent employment rate recorded in the same period last year.
Among the industries, the services sector remained at the top in providing jobs for Filipinos accounting for 59.4 percent of employed individuals followed by agriculture and industry sectors at 21.5 percent and 19 percent, respectively.
In the 12-month period leading up to July, industries such as transportation and storage, administrative and support services, professional and technical activities, information and communication, and manufacturing experienced job growth.
However, wholesale and retail trade, agriculture and forestry, public administration, arts and entertainment, and real estate activities saw the most job losses.
National Economic and Development Authority (NEDA) said in that the government will prioritize creating high-quality and high-paying jobs for self-employed and unpaid family workers.
"The entire government remains committed to improving the business climate in the country to attract more investments, which will lead to the creation of high-quality and high-paying jobs," NEDA Secretary Arsenio M. Balisacan said in a statement.
Balicasan also pointed out the importance of fast-tracking the fiscal year 2023 budget and the government's infrastructure projects which aim to strengthen the country's competitiveness and create more job opportunities.
The NEDA chief also emphasized the Marcos Administration's priority to roll out programs enhancing the skillsets of Filipino employees.
"We will focus on expanding upskilling and retooling programs to improve the country's labor market performance. These are critical to assisting members of the workforce, particularly those in vulnerable employment, to improve their employability and allowing them to move across industries and occupations," he added. (Xander Dave G. Ceballos)