Unemployment rate drops to 6.4% as of January 2022, says PSA | File photo
UNEMPLOYMENT rate in the Philippines has decreased to 6.4 percent in January 2022 from the 6.6 percent in December 2021, the Philippine Statistics Authority reported Friday, March 18, 2022.
In terms of the labor force participation rate , Mapa said this remained the same as the January 2021 rate of 60.5 percent.The employment situation in the country for the first month of 2022, meanwhile, has improved from 91.2 percent in January 2021 to 93.6 percent this year. “Underemployed persons or employed persons who expressed desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work was accounted at 6.40 million translating to an underemployment rate of 14.9 percent. This was lower than the 16 percent reported in January 2021 but higher than the 14.7 percent reported in December 2021,” Mapa said.
The PSA also noted that the Cordillera Administrative Region registered the highest LFPR at 65 percent in January 2022, while the Bangsamoro Autonomous Region in Muslim Mindanao had the lowest at 55.6 percent. By sex, LFPR was higher among men at 72.9 percent than to women at 48.1 percent in January 2022, the PSA noted.
The year-on-year changes in the number of employed persons from January 2021 to January 2022, showed the top five sub-sectors with the highest increase, namely:* Wholesale and retail trade; repair of motor vehicles and motorcycles In terms of quarter-on-quarter changes in the number of employed persons from October 2021 to January 2022, the top five sub-sectors with the highest increase were:* Other service activities As to the participation of the youth in the labor force, the PSA said 32...
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