top of page
  • Writer's pictureBy The Financial District

Fewer Filipinos Without Jobs --- NEDA

The number of unemployed Filipinos decreased from the previous year, indicating an improvement in the job market.


The number of unemployed individuals aged 15 years and above decreased to 2.33 million last June compared to 2.99 million in the same month of 2022, as per NEDA figures. I Photo: Philippine Information Agency Twitter



The unemployment rate in June was 4.5%, showing a slight increase compared to May's rate of 4.3%. The underemployment rate rose to 12% in June, with 5.87 million workers classified as underemployed.


Compared to June 2022, both the unemployment rate (6%) and underemployment rate (12.6%) improved.



The Philippine Statistics Authority (PSA) and the National Economic and Development Authority (NEDA) reported a decrease in the number of jobless Filipinos over the past year due to improved employment opportunities, specifically for the youth.


In a briefing earlier in the month, National Statistician Dennis S. Mapa said the number of unemployed individuals aged 15 years and above decreased to 2.33 million last June compared to 2.99 million in the same month of 2022.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

As a percentage of the total labor force, which comprises 51.17 million individuals actively seeking employment, the unemployment rate stood at 4.5 percent, a significant decline from the six percent joblessness rate recorded in June 2022.


June posted an increase in the number of unemployed individuals compared to May's figure of 2.17 million, or a jobless rate of 4.3 percent.


Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

Meanwhile, Mapa said the underemployment rate in June also showed improvement, decreasing to 12 percent from 12.6 percent in the same month of the previous year. However, it increased compared to May's rate of 11.7 percent.


According to the PSA, approximately 5.87 million were underemployed in June or employed Filipinos who expressed their desire for additional work hours in their current job, sought an additional job, or wished to secure a new job with longer hours of work.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

In a separate statement, NEDA Secretary Arsenio M. Balisacan said the decrease in the number of unemployed Filipinos can be attributed to the enhanced employability of individuals in the labor market.


Balisacan cited that the employment rate among the youth reached 90.1 percent, equivalent to 6.45 million individuals, which is higher than the 88.2 percent recorded in June 2022.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Youth employment specifically refers to individuals aged 15 to 24 who are actively participating in the labor force and are employed.


“As the number of young workers continues to expand, the Marcos administration is exerting efforts to focus on training and upskilling to improve their employability for high-quality and high-paying jobs,” Balisacan said.





Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat

Comments


bottom of page