Philippines jobless rate up to 6 per cent in May


MANILA (Philippine Daily Inquirer/Asia News Network): The country’s unemployment rate rose 6 per cent in May, the Philippine Statistics Authority (PSA) reported Thursday (July 7).

The 6-percent unemployment rate is higher compared to the 5.7 per cent recorded in April.

However, the May unemployment rate is lower compared to the 7.7 per cent recorded in the same month last year.

“The country’s unemployment rate dropped to 6.0 per cent in May 2022, from 7.7 per cent in May 2021. However, it posted a 0.3 percentage point month-on-month increase from 5.7 per cent in April 2022,” the PSA said in a statement.

From 2.76 million in April, the number of unemployed people swelled to 2.93 million in May, the PSA said. In May 2021, there were 3.74 million unemployed individuals.

According to the PSA, 94 per cent or 94 in every 100 people in the labour force have a job or business in May, lower than the 94.3 per cent in April.

This means that “46.08 million out of 49.01 million Filipinos in the labour force 15 years old and over were employed in May 2022.”

The services sector, the PSA said, dominated the labour market with 59 percent of the employed population. The agriculture and industry sectors followed with 22 per cent and 19 per cent, respectively.

Meanwhile, 14.5 per cent or 6.67 million of the employed population are underemployed, the PSA noted.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Philippines , unemployment , rate , May

   

Next In Aseanplus News

Asean News Headlines at 9pm on Sunday (Aug 14, 2022)
Indonesia deploys over 20 helicopters to fire-prone provinces after hot spots appear
China and Thailand kick off joint air force drills
Singapore taps satellite signals to monitor air moisture in effort to better predict weather
Indonesia July trade surplus seen narrowing amid slowing global trade
Philippine leader Marcos Jr threatens to fire officials in sugar mess
Vietnam reports 1,429 new Covid-19 cases and one new death on Sunday (Aug 14)
Tropical depression Mulan triggers flash floods at Thai-Myanmar border towns
Cambodia arrests 9,151 drug suspects, seizing 3.27 tons of narcotics in first seven months of 2022
Thai boxer dies from brain haemorrhage in Ambang Merdeka Muay Thai Championship 2022

Others Also Read