Unemployed and underemployed Filipinos increased in June 2023 compared to a month ago, according to the latest Labor Force Survey (LFS) results released by the Philippine Statistics Authority (PSA).
Data showed the number of unemployed Filipinos reached 2.33 million in June 2023, a 159,000 increase from the 2.17 million posted in May 2023. But, this was lower than the 2.95 million posted in June 2022.
In terms of underemployment, there were 5.87 million Filipinos who were looking for better livelihood opportunities while holding down their day jobs.
This was higher by 214,000 compared to May 2023 but lower by 13,000 compared to June 2022.
“Ang unemployment rate ay naitala sa 4.5 percent, o apatnapu’t lima (45) sa kada isang libo (1,000) na indibidwal na nasa labor force ang walang trabaho o negosyo nitong Hunyo 2023,” National Statistician Claire Dennis S. Mapa said in a briefing on Wednesday.
Based on the PSA data, the labor force reached 51.17 million in June 2023, a 1.59 million increase from June 2022 and 741,000 increase from May 2023.
The number of employed Filipinos reached 48.84 million, a 2.25 million increase from June 2022 and 581,000 increase from May 2023.
Notably, the National Economic and Development Authority (NEDA) said the employment rate among the youth was estimated at 90.1 percent or 6.45 million, which is higher than the 88.2 percent in June 2022.
Youth employment refers to individuals between the ages 15 and 24 who are part of the labor force and are employed.
“As the number of young workers continues to expand, the Marcos administration is exerting efforts to focus on training and upskilling to improve their employability for high-quality and high-paying jobs,” said NEDA Secretary Arsenio M. Balisacan.
In the 2022 National Demographic and Health Survey conducted by PSA, it was found that the total fertility rate of Filipino women aged 15 to 49 years declined from 2.7 children per woman in 2017 to 1.9 children per woman in 2022.
This change leads to an overall increase in the working-age population (15-64 years of age) over time, the so-called demographic transition. When this is accompanied by higher investments in human capital and more high-quality job opportunities, then this translates to a demographic dividend.
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Unemployment, underemployment increased in June ’23—Labor Force Survey
Source: News Paper Radio
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