Jobless rate rose again to 4.8% in July 2023

MANILA  -The unemployment rate in the Philippines climbed to a five-month high of 4.8 percent in July with 2.27 million Filipinos available and looking for jobs, according to preliminary data at the Philippine Statistics Authority.

National Statistician Dennis Mapa said that compared to a year earlier, July 2022, the number of unemployed Filipinos decreased by 329,000 from 2.6 million.

The July readout was higher than 4.5 percent in June 2023. However, it was lower than 5.2 percent in July 2022, which Mapa said was a better and more scientific comparison. The  June figure marked an increase from the 4.3 percent jobless rate in May this year.

Also, the decrease in the number of the unemployed was partially due to fewer Filipinos who are taking part in the labor force — including both jobholders and jobseekers.

There were 46.9 million Filipinos active in the labor force last July, fewer by 3.09 million compared to 49.99 million in the same month last year.

Over the 12-month period up to July, the industries that contributed most to reducing the ranks of the jobless were wholesale and retail trade (377,000 hired); administrative and support service activities (243,000); professional, scientific and technical activities (162,000); information and communication (117,000); and manufacturing (75,000).

On the other hand, the industries where most jobs were lost include wholesale and retail trade (1.97 million jobs); agriculture and forestry (1.58 million); public administration and defense (271,000); arts, entertainment and recreation (44,000); and real estate activities (32,000);