THE Philippine Statistics Authority (PSA) on Tuesday said that the number of unemployed Filipinos rose in February this year.
According to the PSA, this is because the labor market failed to absorb a portion of the labor force that saw an increase during the period.
“Ang unemployed persons o bilang ng mga nasa labor force na walang trabaho o negosyo nitong Pebrero 2023 ay nasa 2.47 million,” PSA chief and National Statistician Claire Dennis Mapa said as they discussed the preliminary results of the February 2023 Labor Force Survey (LFS).
The PSA said that the number of jobless adults — ages 15 and above — shot up by 2.37 million unemployed seen in January.
It is lower though when compared to the umber of jobless Filipinos in February 2022which had 3.13 million jobless Filipinos.
According to the PSA, this is an unemployment rate of 4.8%, on the same level month-on-month but lower than the 6.4% unemployment rate year-on-year.