Unemployment rate is 6% but it does not indicate an improvement

Photo shows applicants in a recent job fair hosted by the Department of Labor & Employment

The number of Filipinos looking for jobs decreased in June, according to the latest data released by the Philippine Statistics Authority (PSA).

On Monday, the PSA said there were 2.99 million unemployed Filipinos and 5.89 million underemployed workers. The number of unemployed Pinoys decreased by 781,000 while the ranks of the underemployed was cut by 522,000.

The data also showed the country’s unemployment rate was at 6 percent while the underemployment rate was pegged at 12.6 percent in June.

“The latest data show a significant increase in the number of workers employed on a full-time basis. While this is a good indication of the improving quality of work in our country, the government should incessantly boost its efforts towards providing an environment conducive to the creation of more and better employment opportunities,” Socioeconomic Planning Secretary Arsenio M. Balisacan said.

The country’s employment rate in June 2022 remained the same as the 94 percent employment rate reported a month ago. This was higher than the employment rate of 92.3 percent registered in the same period of 2021.

In terms of magnitude, 46.59 million Filipinos who are 15 years old and over were employed in June 2022. This was higher by 508 thousand compared to the 46.08 million employed in May 2022.

The labor force participation rate (LFPR) in June 2022 was registered at 64.8 percent or about 49.58 million Filipinos who were either employed or unemployed. This was lower than the LFPR reported in the same period in 2021 at 65.1 percent.

Meanwhile, the June 2022 LFPR was higher than the LFPR reported in January (60.5 percent), February (63.8 percent) and April (63.4 percent) and May (64 percent) but lower than the LFPR reported in March (65.4 percent) this year.

Image credits: DOLE


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