The Philippines’ unemployment rate declined to 4 percent in August, its lowest level in two months, as more Filipino women joined the labor force, particularly in the services sector, according to a report released by the Philippine Statistics Authority (PSA) on Tuesday.
Preliminary data from the PSA’s August Labor Force Survey (LFS) showed that the number of jobless Filipinos stood at 2.07 million, down from 4.7 percent in July and 4.4 percent in the same period last year.
Female labor force participation increased to 54.7 percent in August, a rise from 52.4 percent in the previous month. Similarly, the female employment rate also saw a boost, reaching 95.3 percent, up from 94.8 percent in July.
The underemployment rate, which reflects the percentage of employed individuals seeking additional work or longer hours, also showed improvement. It dropped to 11.2 percent in August, down from 12.1 percent in July and 11.7 percent last year. This reduction translated to 5.48 million Filipinos still seeking extra employment opportunities.
The overall labor force participation rate climbed to 64.8 percent, up from 63.5 percent in July, with the employment rate reaching 96 percent, translating to 49.15 million employed Filipinos, an increase from the 47.70 million recorded the previous month.
August’s employment rate was the highest recorded since June’s 96.9 percent.
