DOLE: Number of jobless Pinoys declined in January

The number of Filipinos without jobs declined in January, according to the Department of Labor and Employment (DOLE).

Citing the latest Philippine Statistics Authority (PSA) survey, DOLE Secretary Bienvenido Laguesma said the number of jobless Filipinos dropped by 228,000 from 2.378 million in January.

"The Department of Labor and Employment acknowledges the latest report of the Philippine Statistics Authority regarding the January 2024 Labor Force Survey, where the employment rate decreased by 1.4 points from 96.9 percent in December 2023 to 9.5.5 percent in the month of January," Laguesma said.

"Compared to January of the year 2023, where there was a 95.2 percent employment rate, the last record of the employment rate was higher by 0.3 or 95.5 percent and the unemployment rate of 4.5 percent in January 2024 recorded was lower by 0.3 points which was 95.8 percent in January of 2023," he added.

Laguesma attributed the drop in the unemployment rate to the improving economy of the Philippines.

He said the unemployment rate remains within the four to five percent target in accordance with the Philippine Development Plan 2023-2028.

Laguesma also cited various reasons for the decline in the unemployment rate compared to the previous.

One probable reason, he said, is that 37.44 percent of the current unemployed, belonging to the 15 to 24 age group, have returned to school.

The DOLE official also assured that the agency is taking steps to promote employment, particularly among the youth.