Despite an increase in the number of Filipinos finding jobs in October, many were not employed in full-time positions, leading to a continued rise in underemployment.
Data from the Philippine Statistics Authority (PSA) revealed that the employment rate in October rose to 96.1 percent, compared to 95.8 percent in the same period last year.
The workforce also grew from 47.79 million employees in October of the previous year to 48.16 million this year. Simultaneously, the number of unemployed individuals decreased to 1.97 million from 2.09 million in October 2023.
While the employment and unemployment rates indicate a positive trend, the underemployment rate worsened in October, climbing to 12.6 percent from 11.7 percent in the same period last year.
Of the 48.16 million employed Filipinos in October, 6.08 million were seeking additional work hours, another job, or a new job with longer hours. This increase represents nearly half a million (486,000) Filipino workers seeking more working hours, primarily in the wholesale and retail trade, agriculture, and forestry sectors.
"We have an increase in the number of underemployed in these sectors. Of course, if we look at it, there are also losses for us to balance. There are also sub-sectors that have losses," National Statistician and PSA Undersecretary Dennis Mapa said in a briefing on Dec. 6.
For instance, the fishing and aquaculture sector posted a decline of 88,000 underemployed individuals year-on-year. However, overall underemployment increased, largely due to a 350,000 rise in invisible underemployment (those working informally or in unpaid family jobs).
Underemployment in wholesale and retail trade increased by 133,000, with 69,000 of those coming from retail sales outside stores or markets. Manufacturing added 72,000 underemployed, while accommodation and food services grew by 69,000, and construction increased by 43,000.
Mapa noted that the quarterly increase in employment was less significant compared to previous months, partly due to the impact of recent natural disasters.
There is still an increase in employment year-on-year and quarter-on-quarter, but it is not as significant," Mapa said. "Some workers or fellow countrymen were unable to find work or participate in the labor market due to the typhoon."
The most substantial annual declines in employment were recorded in fishing and aquaculture (-213,000), wholesale and retail trade, including motor vehicle repairs (-212,000), and agriculture and forestry (-183,000).
Meanwhile, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan highlighted the "positive employment outcomes, with notable progress in reducing unemployment."
Balisacan acknowledged the "need to intensify efforts to create more and better-quality jobs." He stated the government is committed to "fast-tracking critical infrastructure projects in key sectors such as connectivity, telecommunications, energy, and water to generate more income opportunities."
"Additionally, we are prioritizing the upskilling and reskilling of our workforce to equip Filipino workers with the necessary skills for today's dynamic job market," Balisacan added.
NEDA also affirmed its commitment to prioritize public-private partnerships (PPPs) for climate-resilient infrastructure and support for workers displaced by recent calamities.