THE Philippine Statistics Authority on Monday said the unemployment rate in the country for March has dipped slightly to 4.7 from 4.8 in February.
This meant that it has an equivalent of 2.42 million Filipino workers who became jobless out of 51 million in the labor force.
However, this was lower than the 2.47 million unemployed in February.
“In terms of magnitude, the number of employed persons in March 2023 was estimated at 48.58 million, posting an increase of 1.61 million from the 46.98 million employed persons in March 2022,” the PSA noted.
It also said that the underemployment rate fell to 11.2 percent in March from 12.9 percent in February, and from 15.8 percent in March 2022.
The underemployed workers have jobs but wish to add more work hours, according to the PSA.
From 7.42 million workers who were underemployed in March last year, the number has gone down to 5.44 million in March this year, or a reduction of 1.98 million.
National Statistician and Undersecretary Dennis Mapa said March posted the lowest underemployment rate since April 2005.
“Ang maganda kung titingnan natin yung class of workers para dun sa quality of jobs , ang malaking kabawasan dito sa 1.98 million, mga 872,000 ay wage and salary workers. So ibig sabihin itong category na ito, dati underemployed sila, ngayon sinabai bila di na sila underemployed,” Mapa said.
Catherine R. Cueto