Unemployment rate in the country eased to 3.1 percent in December, its lowest rate in 2023.
The Philippine Statistics Authority said this translates to 1.60 million jobless Filipinos, down from the 1.83 million reported in November and the 2.22 million posted in December 2022.
Conversely, the employment rate rose to 96.9 percent in Dember, or a total 50.52 million, compared with 95.7 percent in December 2022, when a total 49.0 million Filipinos were employed. In November, a total 49.6 million were reported to be employed, or a rate of 96.4 million.
Of those with jobs, the underemployment rate stood at 11.9 percent in December, or 6.01 million Filipinos already with jobs but are still looking for better employment
Labor force participation was 66.6 percent in December, or a total 52.1 million of Filipinos aged 15 years old or older.
By industry, the services sector continued to provided the bulk of available jobs. It had a 57.3 percent share of the 50.5 million employed in December
Agriculture accounted for 24.4 percent of jobs in December while 18.3 percent came from industry.
Among the subsectors that showed the most increases in jobs created in December are agriculture provided 715,000 jobs while construction contributed the most at 777,000. Accommodation and food services activities meantime generated 498,000 jobs.
