Around 2.42 million out of 51 million Filipinos in the labor force, equivalent to 4.7%, were unemployed in March 2023, better than the 5.8% in the same month last year
MANILA, Philippines – The country is continuing its economic recovery from the pandemic as underemployment fell in March this year to its lowest level since April 2005. underemployment rate at 11.2%,” said Philippine Statistics Authority head Dennis Mapa during a presentation of the March 2023 Labor Force Survey on Monday, May 8.
Mapa clarified that this drop in underemployment happened mostly among wage and salaried workers and self-employed persons, accounting for around 872,000 and 861,000 persons respectively. Unfortunately, there was also an increase of 424,000 among unpaid family workers. Though classified as “employed,” these laborers work in a family-operated farm or business and are not paid any steady compensation. For March 2023, unpaid family work accounted for 8.9% of total employment, higher than the 8.3% rate in March 2022.
Wholesale and retail trade, and repair of motor vehicles and motorcycles also saw 407,000 Filipinos join the industry, mostly in retail selling in groceries, supermarkets, sari-sari stores, and convenience stores.
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