More jobless Filipinos were recorded in July with an unemployment rate of 4.7% from 3.1% in June, the Philippine Statistics Authority (PSA) reported on Friday. The figure, however, is lower than the 4.9% recorded in the same month last year.
This translates to 2.38 million jobless Filipinos, 760,000 more than June’s figure of 1.62 million and July 2023’s 2.29 million, reflecting a year-on-year increase of 90,000 unemployed individuals.
Meanwhile, underemployment — which counts those looking for more work or an extra job — remained at 12.1%, unchanged from June’s print but lower than the 15.9% in July 2023
The number of underemployment was equivalent to 5.78 million. These are people “who have expressed the desire to have additional hours of work in their present job or to have additional jobs, or to have a new job with long hours of work.” – Manila Times
