Philippine unemployment rate falls to 4.7% in April

MANILA, Philippines – The number of jobless Filipinos further eased to 2.41 million in April from 2.58 million in March, bucking expectations of a weaker labor market amid the energy crisis, the Philippine Statistics Authority (PSA) reported on Tuesday.

This translated to an unemployment rate of 4.7 percent, down from 5 percent in March. It was the first time this year that the unemployment rate fell below the 5-percent mark.

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However, underemployment — or the number of Filipinos seeking additional work or longer working hours to increase their income — rose to 7.41 million or 15.2 percent in April from 6.03 million or 12.3 percent in March. 

The underemployment rate was the highest since July 2023, when it stood at 15.9 percent.

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Meanwhile, the number of employed Filipinos slightly fell to 48.89 million in April from 49.07 million in March, although the employment rate improved to 95.3 percent from 95 percent.

The labor force participation rate dipped to 62.7 percent, equivalent to 51.3 million Filipinos in the labor force, from 63.3 percent or 51.65 million in March. /pai INQ