PH logs lowest unemployment rate since Covid-19 onset

FILE: Workers assemble Christmas lanterns made of capiz shells and coconut tree-shaped frames with lights at a stall on Dapitan Street in Quezon City. (PNA photo by Alfred Frias)

MANILA – Unemployment rate in September 2022 stood at 5 percent, the lowest in more than two years, the Philippine Statistics Authority (PSA) reported Tuesday.

In a press conference, PSA chief and national statistician Undersecretary Dennis Mapa said the number of unemployed Filipinos in September fell to 2.5 million, or 183,000 lower than the 2.68 million citizens with no jobs the previous month.

The number of jobless Filipinos during the month was also lower by 1.78 million from 4.28 million unemployed a year ago.

“This means 50 out of 1,000 individuals in the labor force have no job,” Mapa said in Filipino.

On the other hand, employment rate in September 2022 was at 95 percent, which translates to 47.58 million Filipinos who have jobs.

This is higher than the August 2022 employment rate of 94.7 percent, and also higher than the September 2021 rate of 91.1 percent.

He identified sectors with largest month-on-month increase in employment. These include manufacturing, up by 780,000 jobs; education, up by 159,000 jobs; public administration and defense, compulsory social security, up by 128,000 jobs; transportation and storage, up by 56,000 jobs; and real estate activities, up by 13,000 jobs.

Meanwhile, underemployment rate also increased to 15.4 percent in September this year from 14.7 percent in its previous month. This means 296,000 more employed Filipinos want to have additional hours of work in their present job or an additional job.

Despite challenges concerning inflation, Mapa is optimistic that the country will sustain unemployment rate near the 5-percent level for the remaining months of the year.

He added the average unemployment rate for this year is close to the pre-pandemic level, which is at 5.1 percent in 2019.

Mapa said the average unemployment rate for the first nine months of the year stood at 5.8 percent.

The country logged its highest unemployment rate since the onset of the Covid-19 pandemic at 17.6 percent in April 2020.

The average unemployment rate in 2020 was at 10.4 percent.