AN influx of women workers led to a drop in the jobless rate in August, the chief of the Philippine Statistics Authority (PSA) said.
Unemployment fell to 4.0 percent from 4.7 percent and 4.4 percent, respectively, a month and year earlier, the PSA reported on Tuesday.
This was equivalent to 2.07 million Filipinos without jobs, 310,000 less than July’s 2.38 million and August 2023’s 2.22 million.
“One major factor was that a lot of women entered the labor force … and a substantial number of them were absorbed,” National Statistician Claire Dennis Mapa said.
“We have more female workers joining the labor force,” he noted.
Mapa said that about 1.04 million female workers joined the labor force and about 1.03 million had found jobs.
The underemployment rate, which counts those looking for more work or an extra job, also improved to 11.2 percent in August from July’s 12.1 percent. It was also lower than the year-earlier 11.7 percent.
The number of the underemployed was estimated to be 5.48 million.
The labor force participation rate (LFPR) — a measure of the number of working-age Filipinos who are actively engaged in the labor market — improved to 64.8 percent from 63.5 percent in July and August 2023’s 64.7 percent.
This was equivalent to 50.29 million individuals ages15 years old and over who were in the labor force.
Employment rose to 96.0 percent, higher than the 95.3 percent recorded in the previous month and the year-earlier 95.6 percent.
The number of individuals with jobs reached 49.15 million, up from July’s 47.70 million and August 2023’s 48.07 million.
The services sector continued to account for the bulk of employment with a share of 63.3 percent, followed by agriculture and industry with 19.3 percent and 17.4 percent, respectively.
Wage and salary workers comprised 62.4 percent of the employed, followed by the self-employed (28.3 percent), unpaid family workers (6.9 percent) and those in family-operated farms or businesses (2.5 percent).
The private sector was said to account for 76.4 percent of wage and salary workers, or 47.7 percent of all Filipinos with jobs, while state-owned firms employed 16.2 percent of wage and salary workers, or 10.1 percent of the total employed.
The youth LFPR fell to 33.2 percent from 34.9 percent in August and 34.2 percent a year ago, but youth employment rose to 88.0 percent from 87.7 percent and 85.2 percent a month and a year earlier, the PSA said.
Socioeconomic Planning Secretary Arsenio Balisacan welcomed the latest job market data and said that these were an indication of “a more vibrant holiday season.”
He noted the need for adequate investments in human capital and priority sectors, and also pointed to the expected finalization of the Trabaho Para Sa Bayan (Jobs for the Nation) plan by the end of the year.
Balisacan also called for the swift passage of the Konektadong Pinoy (Connected Filipino) bill, highlighting its potential to improve the information and communications technology, education, health and agriculture sectors.
Fast-tracking key infrastructure projects in energy, logistics and connectivity will also help boost job-creating investments, he added.
“With the government’s continued focus on attracting strategic investments and the timely passage of key reforms, the Philippines is well-positioned to translate its promising macroeconomic fundamentals into long-term prosperity for its workforce and economy,” Balisacan claimed.
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