The total number of jobless Filipinos in November 2022 has declined to 2.18 million, equivalent to 4.2 percent, the Philippines Statistics Authority (PSA) reported on Friday.

The results of the PSA’s November 2022 Labor Force Survey (LFS) showed that the unemployment rate is lower than the 4.5 percent or 2.24 million recorded in October 2022.

The PSA said the November 2022 figure is the lowest rate recorded in 17 years.

But despite the decline in the unemployment rate, the number of underemployed Filipinos who want to have additional hours of work in their present job or to have an additional job, or to have a new job with long hours of work continues to increase.

The November 2022 underemployment posted rate of 14.4 percent or 7.16 million underemployed Filipinos.

On the other hand, the employment rate stood at 95.8 percent or 49.71 million employed individuals. The PSA said this is also the highest rate recorded since April 2005.

The five sub-sector with the highest employment increase recorded in November 2022 are as follows:

• wholesale and retail trade, repair of motor vehicles and motorcycles - 1.31 million

• manufacturing - 975,000

• accommodation and food service activities - 750,000

• transportation and storage - 491,000

• administrative and support service activities - 376,000

The country’s labor force participation in November 2022 stood at 67.5 percent or 51.88 million Filipinos aged 15 years old and above who are either employed or unemployed.

The LFS was conducted from Nov. 8 to 18, 2022, and covered a total of 10,906 eligible households.