SunStar Publishing Inc.
THE Philippines’ unemployment rate has recorded a slight decrease to 3.5 percent in February 2024, while the number of employed Filipinos during the same month increased to 96.5 percent.The Philippine Statistics Authority said on Thursday, April 11, 2024, that the country’s Labor Force Participation Rate or those who were either employed or unemployed went up to 50.75 million from 48.09 million individuals in January 2024.It said of the total labor force, 1.80 million were jobless while 48.
The number of underemployed individuals or those who are employed but wanted additional hours of work in their current job or to have an additional job or to have a new job with longer hours went down to 12.4 percent or 6.8 million individuals.In February 2023, the underemployment rate was at 12.9 percent and 13.9 percent in January 2024.The PSA said the services sector continued as the top sector in terms of the number of employed persons with a share of 60.6 percent of the 48.
Unemployment Rate Unemployment Employment Rate
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