Unemployment rate in the country in December was estimated at 4.3 percent following the 4.2 percent recorded November, the lowest since April 2005, as economy continues to recover from the challenges brought by the COVID-19 pandemic, the Philippine Statistics Office said.
The jobless rate was at 6.6 percent in December 2021.
Employment rate of the country’s estimated 49 million workers in December stood at 95.7 percent, down slightly from the 95.8 percent of the estimated 49.7 percent in November. The increase in jobs in the agriculture sector in December wasn’t enough to offset the decline in the industrial and service sectors.
The labor force in December, or those 15 years old and over, was estimated at 51.22 million, equivalent to 66.4 percent participation rate, down from 67.5 percent in November and 65.1 percent in December 2021.
The PSA said the underemployment rate, however, declined to 12.6 percent in December from 14.4 percent in November. This means around 6.2 million employed persons wanted to have additional hours of work or a new job.
