The number of unemployed Filipinos rose in June 2023 while the quality of available jobs worsened, the Philippine Statistics Authority (PSA) reported on Wednesday, August 9.
Data from the PSA shows that in the month of June, there were 2.33 million Filipinos who were either jobless or out of business, which is way higher than the 2.17 million unemployed recorded in May 2023.
The recorded 4.3% unemployment rate posted in May 2023 has increased to 4.5% in June 2023.
On the other hand, several Filipinos were successful in landing jobs but continued to look for longer hours to increase their pay.
According to PSA's data, there were 5.87 million underemployed Filipinos in June 2023, higher than the 5.66 million in May 2023.
As a result, the underemployment rate increased from 11.7% in May 2023 to 12% in June 2023.
While the economy has recovered from the pandemic's lockdowns, economists claimed that the health crisis has left a lasting scar on the nation's labour market, resulting in the creation of low-quality occupations that compensate employees poorly in difficult economic times.
