The Philippine Statistics Authority attributes the decrease in unemployment to more women participating in the workforce
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MANILA, Philippines – The Philippine unemployment rate eased to 4% in August 2024, from the year-high 4.7% recorded the previous month, the Philippine Statistics Authority reported as the preliminary results of the August 2024 Labor Force Survey on Tuesday, October 8.2.38 million unemployed in JulyYear-on-year, August’s unemployment rate is also lower than the 2.22 milllion unemployed in August 2023, which had a 4.4% rate.
As for underemployment, August saw a decrease compared to July and August 2023, at 11.2%. This translates to 5.48 million underemployed Filipinos, compared to 12.1% in July and 11.7% in August 2023. Broken down by sex, the increase in labor force participation with males was incremental, from 74.5% in July to 74.8% in August.
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