The number of unemployed and underemployed Filipinos decreased in February as more Pinoys found work with the start of classes and the harvest season, the Philippine Statistics Authority said on Thursday.

Based on the latest results of the Labor Force Survey (LFS), the number of jobless Filipinos declined in February to 1.8 million from 2.15 million in January.

In a press briefing, PSA chief and National Statistician Claire Dennis Mapa said that this was the second-lowest unemployment rate in the country since April 2005.

The country recorded 2.9 million unemployed Filipinos in April 2005 and 1.6 million jobless people in December 2023.

“The country’s unemployment rate in February 2024 dropped to 3.5 percent, from 4.8 percent in February of the previous year and 4.5 percent in January 2024,” Mapa said.

Underemployment down

The underemployment rate dropped to 12.4 percent in February, lower than the 13.94 percent rate in January and the 12.9 percent rate in February of last year.

Out of the 48.95 million people who had jobs in February 2024, around 6.08 million wanted to work more hours at their current job, at another job, or at a new job that would allow them to work longer hours.

It is lower than the 6.39 million recorded in January and the 6.29 million noted in February 2023.

"On average, employed persons worked 40.1 hours per week, which was higher than the average hours worked in a week in February 2023 at 39.5 hours but lower than the reported average hours worked in a week in January 2024 at 42.1 hours," Mapa said.

Article 83 of the Labor Code said that the the usual work hours for employees or workers are 40 hours per week or eight hours per day.

On the other hand, Article 87 of the Labor Code said that any employee shall be paid for overtime work at a rate not less than their regular wage plus at least 25 percent.

Number of wage, salary workers increased in February

Meanwhile, there is an increase in the proportion of wage and salaried employment, middle-skilled occupations, and full-time work.

"Wage and salary workers continued to account for the largest share of employed persons with 62.9 percent of the total employed persons in February 2024," Mapa said.

"This was followed by self-employed persons without any paid employee at 27.2 percent and unpaid family workers at 7.8 percent. Employers in own family-operated farms or businesses had the lowest share of 2.0 percent," Mapa added.

With 60.6 percent of the 48.95 million jobs, Mapa said the services industry continued to be the most popular choice for workers.

The agriculture and industry sectors accounted for 21.3 percent and 18.1 percent of the employed persons, respectively.

The other top five sub-sectors where the number of jobs increased the most each year were building, transportation and storage, administrative and support service activities, manufacturing, and lodging and food service activities.

In February 2024, fewer people were working in trade and retail, government and defense, information and communication, agriculture and forestry, fishing and aquaculture, public administration and defense, information and communication, wholesale and retail trade, and repair of cars and motorbikes.