Unemployment now at lowest level since start of pandemic
The number of unemployed Filipinos decreased to 2.6 million in July this year from 2.76 million in April, according to preliminary results of the Philippine Statistics Authority’s (PSA) latest labor force survey.
This improved the unemployment rate to 5.2 percent from 5.7 percent in the April survey.
Now at its lowest since 17.6 percent in April 2020 at the onset of the pandemic, the unemployment rate was 7.2 percent in July 2021. Back then, compared to July this year, there were 627,000 more unsuccessful jobseekers.
For the latest survey, the PSA gathered data across the nation for 20 days from July 8-30, excluding Sundays. These sorties covered a total of 131,828 persons of employment age—or 15 years and older—belonging to 45,521 households. They don’t include those who are working abroad.
Last July, there were 49.99 million Filipinos 15 years and older who had jobs or were looking for jobs. They represent less than two-thirds—65.2 percent—of the country’s labor force.
Those who are not participating in the labor force—working-age people who don’t work or are not looking for jobs—include those who have retired or are busy with housekeeping, studying or unable to work because of permanent disability.
The labor force participation rate increased from 63.4 percent last April and 59.4 percent in July 2021. There were 1.6 million more people active in the labor force compared to April, and 5.09 million more compared to July last year.
Also, there were 1.76 million more people who had jobs last July compared to April, and 5.72 million more compared to July last year.
“July [2022] numbers are very promising,” National Statistician Dennis Mapa said in a briefing. “The unemployment rate is the lowest since the 4.5 percent in October 2019 before the pandemic.”
