According to data from the Philippine Statistics Authority (PSA), the number of unemployed Filipinos decreased in August, indicating an improvement in the quality of available jobs.
The PSA’s nationwide survey revealed that in August, there were 2.21 million individuals in the country who were either jobless or out of business, resulting in an unemployment rate of 4.4 percent.
This figure is lower than the 2.27 million unemployed individuals recorded in July when the unemployment rate stood at 4.8 percent.
National Statistician Claire Dennis Mapa attributed the decline in joblessness to increased retail trade activities associated with school reopenings and a rise in agriculture jobs.
These factors contributed to a more favorable employment situation during the period.
Additionally, the PSA data indicated that in August, 5.63 million Filipinos were seeking additional working hours to supplement their income.
This corresponds to an underemployment rate of 11.7 percent, which is significantly lower than the 7.10 million underemployed individuals recorded in July when the underemployment rate was 15.9 percent.
Source: PhilNews24 | October 6, 2023
