MORE Filipinos had jobs in February this year and fewer workers were also underemployed, , the Philippine Statistics Authority (PSA) said yesterday.
The Philippines’ unemployment rate fell to 3.5 percent in February 2024 from 4.5 percent in January. This was also lower than the 4.8 percent clip seen in February last year, the PSA said citing the results of its Labor Force Survey.
For February, 1.8 million Filipino workers had no work during the month, which was the second lowest number since December last year when 1.6 million were jobless, said National Statistician and Undersecretary Dennis Mapa.
This was also an improvement over the 2.15 million jobless workers in January, and the 2.47 million jobless in February last year.
The underemployment rate meanwhile also fell to 12.4 percent which was lower compared to the 13.9 percent underemployment rate in January, and the 12.9 percent rate in February last year.
The PSA said 6.08 million were classified as underemployed in February, lower than the 6.39 million seen in January, and the 6.29 million in February last year.
The top five sub-sectors that added job on a year-on-year basis were:
* Construction (470,000)
* Transportation and storage (444,000)
* Administrative and support service activities (344,000)
* Manufacturing (313,000)
* Accommodation and food service activities (210,000)
Month on month, wholesale and retail trade had the highest increase in employment at 1.61 million, followed by agriculture and forestry at 1.03 million.
Mapa said the opening of classes and the start of the harvest season brought about jobs growth and February.
Meanwhile the following five sub-sectors posted the highest annual job losses:
* Agriculture and forestry (-834,000)
* Fishing and aquaculture (-490,000)
* Public administration and defense; compulsory social security (-418,000)
* Information and communication (-107,000)
* Wholesale and retail trade; repair of motor vehicles and motorcycles (-102,000)
Mapa said fishing and aquaculture jobs declined in February because the first quarter is a lean season for fishing.
The statistician also noted that more than 1.829 million Filipinos were out of the labor force in February. He said most of them chose not to work to meet household and family duties.
The National Economic and Development Authority (NEDA) meanwhile said government is focused on attracting more investments that will create jobs for Filipinos.
Socioeconomic Planning Secretary Arsenio Balisacan said that government will look into enhancing opportunities for part-time work, so employees can upskill or resell without leaving the workforce. (ABS-CBN News)
