Philippine unemployment rate drops to 4.5% in April

The country’s unemployment rate eased further to 4.5 percent in April, according to the Philippine Statistics Authority’s latest Labor Force Survey.

The jobless rate has been on a downtrend since the start of the year, at 4.8 percent in January and February and 4.7 percent in March.

The April 2023 unemployment rate also fell below the 5.7 percent recorded in the same month the previous year.

The number of unemployed persons was estimated at 2.26 million, indicating a decline of 506,200 from the 2.76 million unemployed persons in April 2022.

The underemployment rate also decreased to 12.9 percent from 14 percent a year ago, resulting in 199,000 fewer underemployed individuals compared to the previous year.

The underemployment figure however was higher in April versus March’s 11.2 percent.

In a statement, the National Economic and Development Authority (NEDA) said the government aims to sustain the recent improvements in the country’s labor market conditions by implementing crucial economic reforms and leveraging digital technology to enhance workers’ employability.

“The government affirms its commitment to the unimpeded implementation of economic liberalization reforms and other essential legislation. These efforts will be complemented by comprehensive collaborations among government entities and society as a whole to enhance the employability and productivity of our workforce,” NEDA Secretary Arsenio M. Balisacan said.

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