Unemployment in the Philippines rose to 3.9 percent in March, up from 3.5 percent in February but still lower than the year-earlier figure of 4.7 percent, according to the Philippine Statistics Authority.
Despite the increase in unemployment, job quality improved, with underemployment dropping to 11 percent from 12.4 percent in February.
The labor force participation rate also improved to 65.3 percent, although slightly lower than the previous year’s 66 percent.
The National Economic and Development Authority emphasized the government’s commitment to creating high-quality jobs and improving employment prospects through investments and training programs in data sciences and artificial intelligence.
Socioeconomic Planning Secretary Arsenio Balisacan highlighted the importance of ensuring that workers are healthy, educated, and skilled to sustain a robust labor market and benefit from demographic dividends.
Source: PhilNews24 | May 9, 2024
