(Photo by PNA)
MANILA – The country’s unemployment rate improved to 5.3 percent in August from 6 percent in July, as the number of jobless Filipinos declined, according to the Philippine Statistics Authority (PSA).
National Statistician Dennis Mapa said Wednesday that the latest Labor Force Survey showed 2.77 million unemployed Filipinos in August, down from 3.14 million in the previous month.
The August unemployment rate, however, remained higher than the 3.9 percent recorded in the same month last year.
The labor force participation rate also increased to 64 percent from 63.6 percent in July, equivalent to about 52.56 million Filipinos aged 15 and above who were either employed or actively looking for work.
The employment rate rose to 94.7 percent from 94 percent in July.
Meanwhile, underemployment eased to 11.9 percent from 12.9 percent, with about 5.90 million workers saying they wanted additional working hours, another job, or a new job with longer hours.
The services sector continued to account for the largest share of employment at 61.7 percent, followed by agriculture and industry.
Mapa said labor conditions may further improve in the coming months as businesses increase hiring and extend operations ahead of the Christmas season.
He noted that previous years typically showed a rise in seasonal employment, particularly in retail establishments such as malls and groceries, as commercial activity picks up during the holidays.
