By Alec Go
Unemployment rate declined to 5.0% while the employment rate improved to 95.0% in September this year, the Philippine Statistics Authority (PSA) reported on Tuesday, Nov. 8.
The current unemployment rate or an equivalent of 2.50 million jobless Filipinos out of 50.08 million in the labor force is an improvement from August 2022’s 5.3%. This is also down by 3.9% of September 2021’s 8.9%.
Also, the employment rate increase from August’s 94.7% is the highest registered rate since January 2020 or during the onset of the COVID-19 pandemic. This translates to 47.58 million employed Filipinos in September 2022.
“This was lower than the number of employed persons in August 2022 at 47.87 million but higher than the 43.59 million employed persons in September 2021,” the PSA noted.
The underemployment stands at 15.4% or 7.33 million Filipinos. This is higher than August’s 14.7%.
Meanwhile, National Statistician Dennis Mapa said the lower labor force participation rate (LFPR) in September was attributed to the opening of classes. The difference between August and September figures, however, are not “significant.”
Improving employment
The National Economic and Development Authority (NEDA) reiterated the government’s commitment to improve the employment situation and to respond to high underemployment.
Mapa earlier said the top contributors for the increase in underemployment for the said month are the education sectors with 97,000 and transportation and storage with 91,000.
“Normally, kapag tumataas ang sector sa employment, nakikita natin hindi lahat talaga employed in full, so there is a percentage na underemployed,” he said.
NEDA Secretary Arsenio Balisacan said the government will continue to provide cash aid and fuel and crop subsidies in response to underemployment, as they continue to prioritize food security.
“The recent survey results show the gains of the full reopening of our economy. The government will leverage on this momentum by strengthening policy interventions and investing in innovation and technology systems geared toward generating higher-quality employment that provides adequate income for Filipino workers and their families,” he said.
