Philippine unemployment rate dropped to 3.5% in February, a significant decrease from 4.5% in January. This translates to 1.8 million unemployed Filipinos, the lowest since December 2023.
The increase in employment is attributed to seasonal hiring in wholesale and retail trade, and agriculture due to the opening of classes and harvest season.
The number of employed Filipinos increased to 48.95 million from 45.94 million.
Underemployment also saw an improvement, down to 12.4% from 13.9% in January.
The government remains firm in creating jobs through people-centered policies and attracting investments.
Source: PhilNews24 | April 12, 2024
