Philippines’ jobless rate increases to 4.1% in May

Philippines’ jobless rate increases to 4.1% in May

THE number of unemployed Filipinos in the month of May ballooned to 4.1%, according to the Philippine Statistics Authority (PSA).

According to the PSA’s labor force survey conducted from May 8 to 28, 2024, the number of unemployed Filipinos reached 2.11 million, up from 2.04 million in April.

However, this figure is slightly lower than the 2.17 million recorded in May 2023.

Some major industries that saw a significant decrease in employment include agriculture and forestry, fishing and aquaculture, arts, entertainment and recreation, and real estate activities.

Meanwhile, major occupations with decreased employment, include service and sales workers, technicians and associate professionals, and managers.

On the other hand, the number of underemployed persons— or those who have jobs but are looking for additional income or longer working hours— decreased slightly from 7.04 million in April to 4.82 million in May.

This is also lower compared to May 2023, which had 5.66 million underemployed individuals.

The overall number of employed individuals or those engaged in business in the Philippines slightly increased from 48.36 million in April to 48.87 million in May.

This figure is higher than the 48.26 million recorded in May 2023.


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