Unemployment rate in PH eases to 4.7% in March

The unemployment rate across the country improved to 4.7 percent in March.

At a press briefing on Monday, National Statistician Dennis Mapa said the number of jobseekers was estimated at 2.42 million in March, a decrease of 58,000 compared with February and of 461,000 compared with March 2022.

The jobless rate was pegged at 4.8 percent in February and 5.8 percent in March 2022.

The industries that contributed most to reducing the ranks of the jobless were transportation and storage, with 533,000 new hires; accommodation and food service activities (447,000); wholesale and retail trade (407,000); and construction (384,000).

The industries where most jobs were lost include agriculture and forestry, where there were 607,000 fewer workers; financial and insurance activities (156,000); manufacturing (136,000); and human health and social work activities (130,000).

The underemployment rate in March went down to 11.2 percent from 15.8 percent a year ago.

The underemployed—those who have jobs but want more work hours or an additional job—saw their numbers decrease by 1.98 million.

—Ronnel W. Domingo

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Philippines’ jobless rate down to 4.7% in March 2023