Unemployment rate drops to 3.9 percent in August

MANILA, October 12 ------ The unemployment rate dropped to 3.9 percent in August, the Philippine Statistics Authority (PSA) said as it noted that jobs lost in July seem to have returned last month.

In a press briefing, the PSA said agriculture and forestry, wholesale and retail trade, and construction posted the biggest job increases in August. These were the industries that shed the largest number of jobs the month before. There were 2.03 million jobless Filipinos in August, the PSA said.

Agriculture and forestry saw 1.35 million more jobs, while wholesale and retail trade and repair of motor vehicles and motorcycles had 1.30 million more jobs. Construction, meanwhile, had 672,000 more employees. “May big adjustment din kasi tayo nung month of July. Ang pinakarason dito, as we mentioned, yung series of typhoons, talagang malaki yung epekto nung mga bagyo doon sa ating industries, particularly agriculture,” said National Statistician Clare Dennis Mapa. “So ang nakita namin na yung bawas doon sa July, which is ang pinakamalaki agriculture, retail trade, and construction, bumalik sila ngayon…in a way, parang naging temporary yung naging pagkawala ng trabaho,” he said.

The PSA said unemployment and underemployment rates climbed in July from June as typhoons and floods affected large parts of the country. The underemployment employment rate, which refers to the percentage of workers looking for extra jobs or extra work hours, also fell to 10.7 percent in August from 14.8 percent in July. There were 5.38 million underemployed Filipinos in August, the PSA said.

Asked if he sees the jobless rate declining till December, however, Mapa said the economy faces risks. “May risk tayo sa September dahil marami na namang bagyo,” he said. “While there is a substantial portion of our labor market na…kumbaga protected sila sa mga ganitong sakuna, pero meron tayong portion talaga particularly sa agri, yung retail sale compnent—malaki kasi itong retail sale eh, so my component tayo diyan na medyo they are, may dependency sa weather conditions.” “And of course, yung earthquake na nangyari sa Cebu, pwedeng magkaroon tayo ng epekto rin sa ating employment,” he added.

Department of Economy, Planning, and Development (DEPDev) Arsenio Balisacan said the government will protect more vulnerable workers by prioritizing improvements in logistics, infrastructure, digitalization, and workforce development. “The government is also ramping up investments in climate-resilient infrastructure and proactive measures, alongside timely emergency employment programs to support workers affected by disruptions,” he said in a statement.

Source: news.abs-cbn.com