The unemployment rate in the Philippines has increased to 3.9% in March 2024, the Philippine Statistics Authority (PSA) reported on Wednesday.
This means that the number of jobless Filipinos aged 15 and above reportedly rose to two million in March 2024, from 1.8 million in February 2024. National statistician and PSA chief Claire Dennis Mapa announced this news during a press conference, citing the increase of 205,000 unemployed individuals. Still, it was noted that this number remains lower than the 2.42 million recorded data in the same period last year.
The PSA also listed the industries with the largest drop in employment from February to March. These are:
- Agriculture and forestry: 318,000
- Transportation and storage: 292,000
- Construction: 214,000
- Administrative and support services: 118,000
Meanwhile, the 11% underemployment rate in the Philippines for March 2024 reportedly showed a slight decrease compared to 12.4% in February 2024 and 11.2% in March 2023.
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