The unemployment rate in the Philippines rose to 4.7% in July, up from 3.1% in June, according to the Philippine Statistics Authority (PSA). This increase means 2.38 million Filipinos were jobless in July, compared to 1.62 million in the previous month.
National Statistician Claire Dennis Mapa highlighted that youth unemployment was a major factor behind the rise. “Out of the 2.38 million unemployed, 43% or 1.02 million were between the ages of 15-24,” he noted.
The labor force in July shrank to 50.7 million from 51.9 million in June. Despite the rise in unemployment, underemployment remained stable at 12.1%, representing 5.78 million workers seeking extra work or hours.
Several sectors, such as wholesale and retail trade, agriculture, and food services, saw significant job gains, while manufacturing and professional services experienced the highest job losses.
Socioeconomic Planning Secretary Arsenio Baliscan assured the public that the government is focusing on attracting investments and improving skills to boost employment opportunities.