The number of jobless Filipinos has increased and now stood at 4.3 percent, based on the latest data released by the Philippine Statistics Authority (PSA) on Wednesday.
Preliminary results of the December 2022 Labor Force Survey indicated that there were 2.22 million unemployed Filipinos aged 15 and above during the month, equivalent to an unemployment rate of 4.3 percent.
This is slightly up from the 4.2 percent or 2.8 million jobless Filipinos recorded in November 2022, but lower than the 3.28 million jobless Filipinos in December 2021 when the unemployment rate was 6.6 percent.
Within the period, there were 43,000 jobs lost in the labor market as the number of jobless Filipinos increased to 2.22 million in December from 2.18 million in November last year.
Labor force participation last December went down to 66.4 percent from 67.5 percent the previous month.
Meanwhile, the employment rate in December 2022 slightly slipped to 95.7 percent from 95.8 percent in the previous month. This equates to 49 million Filipinos aged 15 years and above with jobs during the month.
In a tweet, President Ferdinand 'Bongbong' Marcos Jr. said the latest figures show the administration's efforts to reopen the economy fully.
"Our efforts to fully reopen the economy have resulted in 1.7 million more Filipinos joining the workforce, leading to a rise in the labor force participation rate, which has now reached 66.4%," the President said.
"We welcome this clear sign of post-pandemic recovery among many other positive steps we are taking for our country."
We welcome this clear sign of post-pandemic recovery among many other positive steps we are taking for our country. pic.twitter.com/oOZz0jizbg
— Bongbong Marcos (@bongbongmarcos) February 8, 2023
PSA data said the services industry accounted for the biggest share of employment with 58.9 percent or 28.86 million individuals, followed by the industry sector with 17.1 percent or 8.38 million individuals, and the agriculture sector with 24.0 percent or 11.76 million.
Meanwhile, the following industries saw a decline in their employment: human health and social work by 306,000; agriculture and forestry by 225,000; public administration and defense by 88,000; real estate activities by 71,000; and professional, scientific, and technical activities by 32,000.
Meanwhile, the largest year-on-year increase was recorded in wholesale and retail trade which climbed by 993,000; followed by other service activities up by 563,000; administration and support service activities by 513,000; accommodation and food service by 470,000; and transportation and storage by 275,000.
Underemployment last December went down to 12.6 percent from 14.4 percent a month ago and from 14.7 percent a year ago.
PSA data showed that the average working hours in December last year improved to 40.3 hours per week from 39.3 hours and 39.7 hours per week in November 2022 and December 2021, respectively.
In a statement, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said that the Philippine Development Plan 2023-2028 pursues high-quality jobs for Filipinos.
"Alongside providing high-quality jobs, we must ensure that their skills are not just aligned with current in-demand requirements but can also continuously keep up with the demands of evolving and emerging jobs," Balisacan said.
He added creating more high-quality jobs in the agriculture sector while ensuring food security for Filipinos remains the administration's top priority.
