By Katrina Gracia Consebido
The Philippine unemployment rate for May 2022 has increased to 6% from the 5.7% in April, translating to around 2.93 million jobless Filipinos from April’s 2.76 million.
Based on the Philippine Statistics Authority (PSA) report, May’s jobless rate at 6% is lower than 7.7% during the same month last year.
Underemployment rate also increased to 14.5%, higher than May 2021’s 12.3% and the 14% in April 2022.
The PSA, meanwhile, said 94 in every 100 individuals in the labor force are employed in May 2022, higher than the recorded 92.3% employment rate from the previous year, but lower than the 94.3% in April 2022.
The top five sub-sectors in terms of month-on-month increase in employment from April 2022 to May 2022 are wholesale and retail trade (1.12 million), construction (232,000), fishing and aquaculture (104,000), manufacturing (90,000), and transportation and storage (70,000).
The top sub-sectors on unemployment are agriculture and forestry (-732,000), public administration and defense; compulsory social security (-159,000); arts, entertainment and recreation (-109,000); education (-95,000); and professional, scientific, and technical activities (-51,000).
The wholesale and retail trade, repair of motor vehicles and motorcycles industries had the highest increase in the number of employed individuals with 708,000 employed persons.
The agriculture and forestry industry had the highest decline in employment from May 2021 to May 2022. – ag
