January unemployment rate balloons to 4.5% – PSA
January unemployment rate balloons to 4.5% – PSA
January unemployment rate balloons to 4.5% – PSA
by Ada Pelonia08 March 2024
Photo courtesy: REUTERS

The country’s unemployment rate ballooned to 4.5 percent in January 2024, a stark drop from 3.1 percent in December 2023.

This translates to 2.15 million jobless Filipinos, the Philippine Statistics Authority (PSA) reported on Friday, March 8.

The agriculture and industry sectors rose at the top of having the most number of employed Filipinos at 21.4 percent and 18.4 percent, respectively.

Meanwhile, the top five sub-sectors that recorded an annual increase of employed persons were construction, transportation and storage, administrative and support service, fishing and aquaculture, and other service activities.

The following sub-sectors received the highest annual decreases: wholesale and retail trade, agriculture and forestry, public administration and defense, manufacturing, and information and communication.

Among the regions, CALABARZON has the highest unemployment rate at 5.9 percent while Cagayan Valley and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) received the lowest unemployment rate at 2.9 percent.

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