The number of Filipinos who are not working or jobless declined to 2.21 million in August 2023, according to the Philippine Statistics Authority.
In its latest data, PSA said the unemployment rate went down to 4.4 percent in August 2023 from 4.8 percent in September 2023.
“In terms of magnitude, there were 2.21 million unemployed Filipinos aged 15 years and over in August 2023,” it added.
The employment rate, meanwhile, had significant growth as it posted 48.07 million employed individuals in August 2023 from 47.87 million in the same period last year.
The statistics agency said the industries of fishing and aquaculture, construction, agriculture and forestry, human health and social work activities, administrative and support service activities had the most number of employed persons in August 2023.
Contrarily, a drop in unemployment was seen in the industries of wholesale and retail trade, public administration and defense, financial and insurance activities, information and communication, mining and quarrying, and wage and salary workers.
Of the 48.07 million employed in August 2023, there were 5.63 million who wished to have more working hours or find extra jobs or were underemployed.
“Visible underemployment rate or the proportion of underemployed persons working less than 40 hours in a week was posted at 7.5 percent in August 2023,” PSA said.
Overall, the statistics agency said the Labor Force Participation Rate (LFPR) in August 2023 was posted at 64.7 percent which was higher than the 60.1 percent LFPR in the month prior.
It said that the LFPR for Youth, on the other hand, was 34.9 percent in August 2023 from 29.6 percent in July.
