Job fair (file photo)
MANILA – The Philippine Statistics Authority (PSA) on Tuesday reported that the unemployment rate in February this year stood at 4.8 percent, the same rate as in January.
In a press conference, PSA National Statistician, Undersecretary Dennis Mapa, said the number of jobless Filipinos in February reached 2.47 million, higher by 102,000 from January’s 2.37 million.
Mapa attributed the increase in the number of unemployed individuals to the higher number of Filipinos who joined the labor force in February.
Labor force participation rate went up to 66.6 percent in February from 64.6 percent in January, with 1.55 million Filipinos joining the workforce in the second month of the year.
Individuals in the labor force are those aged 15 years and above.
Of this group, Mapa said 48.8 million were employed in February, higher by 1.45 million from January.
Month on month, the sectors with the highest increase in the number of workers were led by agriculture and forestry, up by 997,000; followed by construction, up by 277,000; fishing and aquaculture, up by 246,000; wholesale and retail trade ; repair of motor vehicles and motorcycles, up by 219,000; and public administration and defense compulsory social security, up by 213,000.
Meanwhile, Mapa said the underemployment rate in February declined to 12.9 percent from 14.1 percent in January.
In a separate statement, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the country’s labor market has continued to record solid performance.
“The most recent data on the country’s workforce suggests that the Philippine labor market is steadily recovering,” he said.
Balisacan said the government vows to further improve the country’s labor market by generating higher-quality jobs for Filipinos.
He added that the recent developments, such as the country’s ratification of the Regional Comprehensive Economic Partnership and amendments to the Public Service Act, would pave the way for more high-paying jobs. (PNA)
