By Alec Go
The Philippines posted an employment rate of 95.5%in June 2023, translating to 48.84 million employed workers, according to the latest labor force survey of the Philippine Statistics Authority (PSA).
This is higher than the 46.59 million or 94% in June 2022, but lower than the 48.26 million or 95.7% in May this year.
Unemployment also declined to 4.5% or to 2.33 million jobless individuals year-on-year from 6.0% or 2.99 million, but rose by 159,000 or from 4.3% in May 2023.
In terms of underemployment, there were 5.87 million individuals considered underemployed in June 2023, down from last year’s 12.6% and higher than the 11.7% in May 2023.
The PSA noted that the labor force participation in June 2023 was at 66.1%.
Accommodation and food service activities; agriculture and forestry; wholesale and retail trade, repair of motor vehicles and motorcycles and other service activities; and public administration and defense and compulsory social security sub sectors had the highest increase in terms of employment.
Meanwhile, fishing and aquaculture; manufacturing; professional, scientific and technical activities; mining and quarrying; and information and communication had the highest drop in employment. – gb
