The unemployment rate for May 2022 has increased to 6 percent from 5.7 percent in April, translating to about 2.93 million jobless Filipinos, up from April’s 2.76 million. Read more👇
A worker mounts steel at an ongoing construction work in Paranaque City. The country’s unemployment rate rose to 6 percent in May—or about 2.93 million jobless Filipinos—from April’s 5.7 percent.The Philippine Statistics Authority said May’s jobless rate was lower than the 7.7 percent recorded in the same month last year.
The top five sub-sectors in terms of month-on-month increase in employment from April 2022 to May 2022 are wholesale and retail trade , construction , fishing and aquaculture , manufacturing , and transportation and storage .The top sub-sectors on unemployment are agriculture and forestry , public administration and defense; compulsory social security ; arts, entertainment and recreation ; education ; and professional, scientific, and technical activities .
In a statement, PSA said 46.08 million out of 49.01 million Filipinos in the labor force 15 years old and over were employed in May 2022, posting an increase of 1.37 million from the 44.72 million employed persons in May 2021. The Labor Force Participation Rate was registered at 64.0 percent in May 2022, an estimate lower than the 64.6 percent LFPR in May last year but higher than the 63.4 percent LFPR reported in April 2022.
“Our jobs situation continues to show enduring weaknesses, demonstrating that economic scarring continues to affect key sectors of the economy. I am particularly concerned by the fact that the increase in the number of unemployed persons exceeds the number of new members of the labor force ,” Salceda told reporters.
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