Around 102,000 Filipinos joined the ranks of the unemployed in February, raising the number of the jobless to 2.47 million from 2.37 million in January as more people sought employment amid signs of improving economic activity, the Philippine Statistics Authority said Tuesday.
Undersecretary and National Statistician Dennis Mapa said a total 1.55 million people joined the labor force in February but just around 1.45 million managed to find jobs.
“The simple explanation is that not all who joined the labor force was absorbed by our labor market.”
Undersecretary and National Statistician Dennis Mapa
Labor force participation rose to 66.6 percent in February or a total 51.3 million people from 64.5 percent in January, or 49.7 million. With greater participation in the labor force, which is comprised of Filipinos from age 15 and older, the unemployment rate in February stood at 4.8 percent, the same level as in January.
Employment rate was at 95.2 percent, the same level in February and January. This means the number of employed increased to 48.8 million in February from 47.4 million in January. The number of Filipinos with jobs in February last year was 45.5 million.
Mapa said the number of underemployed—those looking for additional work– declined to 6.29 million in February from 6.65 million in January. This means the underemployment rate also declined to 12.9 percent in February from 14.1 percent in January. Underemployment was at 14.0 percent or a total 6.38 million in February last year.
The top five sub-sectors with the highest year-on-year change in the number of employed persons in February included wholesale and retail trade, repair of motor vehicles and motorcycles; accommodation and food service activities;
agriculture and forestry; fishing and aquaculture; and other service activities.
