The Department of Labor and Employment (DOLE) on Thursday hailed the record-low unemployment rate of 3.1 percent record in June. This is the second lowest rate logged since April 2005.

DOLE Secretary Bienvenido Laguesma said the positive trend is driven by robust economic growth, particularly in sectors such as construction; wholesale and retail trade; repair of motor vehicles and motorcycles; and accommodation and food service activities. These sectors collectively contributed to a 96.9 percent employment rate or 50.28 million employed persons higher by 1.44 million compared to the 48.84 million in 2023.

Laguesma also welcomed the participation of 577,000 new entrants, some of whom found employment in June 2024. Female labor force participation increased by 346,000 workers year-on-year.

Despite these gains, the Labor chief recognizes the urgent and continuing need to address underemployment, which rose by 208,000 year-on-year, resulting in a 12.1 percent underemployment rate nationwide in June 2024.

“This increase can be attributable to seasonality of and temporary jobs, which are being collectively acted upon through a whole-of-government approach,” Laguesma said.

To tackle the concern of higher-quality jobs, the DOLE, in coordination with the Trabaho Para sa Bayan Inter-Agency Council chaired by the National Economic and Development Authority, is intensifying its efforts to implement the national employment masterplan in alignment with and furtherance of President Ferdinand R. Marcos Jr.’s directives to create and generate quality, regular, and decent jobs.

“The DOLE remains steadfast in its commitment to creating a more inclusive and resilient labor market for all Filipinos,” Laguesma continued. “Through strategic partnerships with the private sector and targeted interventions, we aim to transform challenges into opportunities, ensuring that the benefits of economic growth are shared equitably and that no one is left behind,” he added.