9-6-2023 (MANILA) The unemployment rate in the Philippines dropped to 4.5 percent in April, from 4.7 percent in March, with 2.26 million people out of work, according to the Philippine Statistics Authority (PSA) on Friday. The PSA head, Dennis Mapa, announced in a news conference that the number of unemployed people decreased by around 500,000 from the 2.76 million unemployed in April 2022.
The decline was seen across all age groups, with the youth experiencing the most significant decreases, said National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan. Balisacan also stated that the government is aiming to sustain the recent improvements in the labor market conditions by implementing crucial economic reforms and leveraging digital technology to enhance workers’ employability.
A World Bank report on the Philippines, released on Wednesday, confirmed that the country’s labor force participation gradually increased, and unemployment fell in recent months. The report stated that while new jobs have been created, they have primarily been in the agriculture and services sectors.
