Jobless rate drops — Lowest in 18 years, PSA says
The rise in employment is attributed to the ‘ber months,’ when many businesses and retail stores hire more staff
Earth angel Marivel Requintosa, 57, a five-year Job Order employee of the Manila Department of Public Services, cleans the streets of Manila for P8,900 per month. Though she does not get a 13th month salary as a JO, as ruled by Presidential Decree 851 in 1976, this mother of three will keep working in this job — even use her own cleaning materials because the city government does not provide them — to send her kids through senior high and college. She hopes that someday she would be able to experience the privileges the plantilla workers enjoy. Here, she is spotted along Legarda Street in Manila on 6 December. (PHOTOGRAPH BY KING RODRIGUEZ FOR THE DAILY TRIBUNE)
The country's jobless rate fell to its lowest level in 18 years as local employers hired more workers for the holiday season, the Philippine Statistics Authority said on Thursday.
In a press briefing, PSA chief and National Statistician Claire Dennis Mapa said around 2.09 million Filipinos were unemployed in October, the lowest unemployment rate since April 2005.
The number translated to a 4.2-percent unemployment rate, lower than the 4.5-percent rate in the previous month.
In actual numbers, Mapa said the most recent figure was lower than the 2.26 million jobless Filipinos in September and the 2.24 million unemployed in October 2022.
Mapa attributed the rise in employment to the "ber months," when many businesses and retail stores hire more staff.
"October, being the beginning of the last quarter, we always see that during the holiday season, we experience additional economic activities, and most of the workforce is absorbed into employment opportunities," he said.
In October, the following sectors saw notable employment growth based on quarter-on-quarter data: wholesale and retail trade plus vehicle repair (1.46 million); agriculture and forestry (1.09 million); accommodation and food services (236,000); public administration, defense, and social security (211,000); and education (157,000).
Also worth noting is that most employment generated is middle (+334,000) and high-skill occupations (+897,000) due to the expansion in tourism-related and information technology business process outsourcing sectors.
Underemployment rate up
The underemployment rate, however, went up as more Filipinos looked for part-time work in October to supplement their income, suggesting a drop in the quality of jobs throughout the month.
Mapa said the number of underemployed people increased from 5.11 million in September to 5.6 million in October.
This increased the underemployment rate, which refers to the percentage of employed individuals seeking additional work hours, from 10.7 percent to 11.7 percent over the previous month.
NEDA optimistic
In a separate statement, the National Economic and Development Authority emphasized the significance of maintaining efforts to build an environment that supports high-quality jobs while increasing possibilities for people to upskill or reskill.
NEDA Secretary Arsenio Balisacan anticipates more improvements in the Philippine labor market after President Ferdinand Marcos Jr. signed Republic Act 11966, or the Public-Private Partnership Code, earlier this month.
"We can make the labor market more inclusive by attracting more investments, particularly those that bring in new and better technology. We also need to expand and enhance learning opportunities to equip Filipinos for future jobs," Balisacan said.
"The passage of the PPP Code is just one of several recent reforms that have made the Philippines more attractive to foreign investors. It provides the government with a stronger framework for attracting investments, which in turn creates employment opportunities for Filipino workers in various critical growth areas, including infrastructure," he said.