UNEMPLOYMENT in the country eased for the first time in three months to 5.3 percent in August, the Philippine Statistics Authority (PSA) said on Wednesday, October 7.
The latest print marked an improvement from the four-year high of 6 percent recorded in July, equivalent to 2.77 million jobless Filipinos, down from 3.14 million the previous month.
This came as the employment rate rose to 94.7 percent during the month from 94 percent, bringing the number of employed Filipinos to 49.79 million from 49.21 million.
The labor force participation rate likewise increased to 64 percent from 63.6 percent. This represented 52.56 million Filipinos in the labor force, up from 52.36 million.
Another positive sign was the decline in the underemployment rate, which covers workers seeking additional jobs or longer working hours to increase their income. The rate eased to 11.9 percent from 12.9 percent, representing 5.9 million underemployed Filipinos, down from 6.33 million in July. (Nyah Genelle C. De Leon © Philippine Daily Inquirer)
