Jobless Filipinos rise to 2.5M in May

MANILA, Philippines – The number of unemployed Filipinos rose to 2.5 million in May from 2.41 million a month earlier, the Philippine Statistics Authority (PSA) reported on Wednesday.

This is equivalent to a jobless rate of 4.8 percent, slightly up from 4.7 percent the previous month.

READ: Unemployment falls below 5 percent in April

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Still, other labor market indicators saw some improvement.

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The number of employed Filipinos rose to 49.63 million from 48.9 million, though the rate slightly eased to 95.2 percent from 95.3 percent.

READ: Dole approves ‘historic’ P85 wage hike for NCR workers

The labor force participation likewise increased to 52.13 million or 63.8 percent from 51.3 million or 62.7 percent.

Meanwhile, underemployment—or the number of Filipinos seeking additional work or longer working hours to increase their income—eased to 6.04 million or 12.2 percent from 7.41 million 15.2 percent. /pai INQ

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