The unemployment rate in the country eased to 5 percent in September 2022, equivalent to 2.5 million jobless Filipinos, the Philippine Statistics Authority (PSA) reported on Tuesday, Nov. 8.

PSA's latest Labor Force Survey results showed that the September 2022 unemployment rate was lower compared to the 5.3 percent or 2.8 million in August 2022 but higher than the 4.31 million recorded in the same period last year.

However, the underemployment rate in September increased to 15.4 percent which translates to 7.33 million Filipinos from 14.7 percent or 7.03 million in August 2022.

PSA defined underemployed as "persons or those employed who expressed the desire to have additional hours of work in their current job or to have an additional job or to have a new job with longer hours of work."

The five subsectors with the largest decrease in employment in September are as follows: construction (-394 thousand); fishing and aquaculture (-138 thousand); arts, entertainment, and recreation (-80 thousand); and water supply; sewerage, waste management and remediation activities (-33 thousand).

On the other hand, the Philippines' employment rate stood at 95.0 percent or 47.58 million employed Filipinos in September 2022, the highest recorded rate since January 2020.

The September 2022 employment figure was slightly higher than 94.7 percent or 47.87 million in August and the 43.59 million employed persons in September last year.

A large increase in employment was seen in the following subsectors in September: manufacturing (1.09 million); wholesale and retail trade, repair of motor vehicles and motorcycles (852 thousand); agriculture and forestry (599 thousand); accommodation and food service activities (482 thousand); and transportation and storage (470 thousand).

The survey was conducted from Sept. 8 to 28. About 33,776 individuals in 10,959 households nationwide were interviewed.