The number of jobless Filipinos dropped to 4.5 percent in April from 4.7 percent recorded in March, the Philippine Statistics Authority (PSA) reported on Friday.
Based on PSA’s latest labor force survey, 4.5 percent is equivalent to 2.26 million unemployed Filipinos. This is 506,200 lower than the 2.76 million jobless Pinoy in April last year.
PSA said the industries that recorded declining employment are agriculture and forestry, manufacturing, construction, electricity, gas, steam, and air conditioning supply, an activity of extraterritorial organizations and bodies.
The number of underemployed or those who wish to look for extra jobs also slowed down to 12.9 percent from 14.0 in the same period in 2022.
Meanwhile, the Labor force participation rate (LFPR) or Filipinos aged 15 years and over who were either employed or unemployed rose to 65.1 percent which translates to about 50.31 million.
PSA said the number of employed Filipinos also increased to 95.5 percent.
The rise in employment rate was driven by the increase of workers in the services sector including wholesale and retail trade, accommodation and food service activities, transportation and storage, and other service activities.
Cagayan Valley had the highest employment rate of 97.6 percent among the 17 regions. This was followed by Cordillera Administrative Region (CAR) at 97.3 percent, Zamboanga Peninsula at 97.3 percent, MIMAROPA at 97.1 percent, and Caraga at 97.0 percent.
On the other hand, five regions recorded an unemployment rate that was above the country’s 4.5 percent, and these are Calabarzon with a 5.5 percent, National Capital Region at 5.3 percent, Northern Mindando at 5.3 percent, Eastern Visayas at 5.2 percent, and Central Luzon at 4.7 percent.
