UNEMPLOYMENT RATE UP TO 3.9%, 1.97M FILIPINOS JOBLESS IN OCTOBER

The number of unemployed Filipinos stood at 1.97 million in October, translating to an unemployed rate of 3.9 percent (Photo courtesy of GMA Integrated News) 

Based on the Philippine Statistics Authority’s (PSA) latest report, the country's unemployment and underemployment rates in October is higher compared to September, part of the reason for the increase in the jobless rate was the series of typhoons that hit the country.

PSA Undersecretary and National Statistician Dennis Mapa said the unemployment rate increased to 3.9% in October 2024 from 3.7% from September 2024. This meant that in October 1.97 million Filipino workers were jobless, which is also higher than the 1.89 million jobless workers in September.

Meanwhile, the underemployment rate also climbed to 12.6 percent in October from 11.9 percent in September. This was also higher than the 11.7 percent underemployment rate seen in October last year. 

This meant that 6.08 million Filipino workers were underemployed, which was also higher than the 5.94 million seen in September. “Some of our countrymen were not able to find jobs or did not participate in the labor market because of the typhoons. And if we check, there were three strong storms that hit in October.”

Underemployment are those who have expressed the desire to have additional hours of work in their present job or to have additional jobs, or to have a new job with long hours of work. 

On the other hand, employment rate decreased to 96.1 percent in October from 96.3 percent in September but higher than last year's 95.8 percent. The number of individuals with jobs reached 48.16 million, lower than September's 49.87 million but higher than October 2023's 47.79 million.

PSA’s latest Labor Force Survey (LFS) also showed that Armed Forces occupations received the highest average daily wage at P1,301. Followed by Professionals, specifically those who receive a daily basic pay of P1,168. Managers received the third highest daily wage at P1,109.

Technicians and associate professionals came in fourth, receiving daily basic pay of P826, and Clerical support workers was the fifth occupation that received the highest daily basic pay at P740.

Meanwhile, the bottom five occupations in terms of daily basic pay, namely: Skilled agricultural, forestry, and fishery workers (P378); Elementary occupations (P413); Service and sales workers (P525); Craft and related trades workers (P553); and Plant and machine operators and assemblers (P583).

Source: Philippine News Agency 

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