The Philippines’ unemployment rate saw a slight increase in May, rising to 4.1 percent from April’s 4 percent, according to the Philippine Statistics Authority (PSA). This translates to 2.11 million Filipinos being jobless in May, up from 2.04 million in April, ABS-CBN News reported.
Despite this rise, the number of employed workers also grew, reaching 48.87 million in May compared to 48.36 million in April. This indicates that while more people entered the workforce, job availability did not keep pace.
Conversely, the underemployment rate fell significantly to 9.9 percent in May from 14.6 percent in April and 11.7 percent in May 2023. This means 4.82 million workers, although employed, sought additional hours or jobs to meet their needs.
PSA Undersecretary and National Statistician Dennis Mapa highlighted that the increase in workforce participation contributed to these changes.