More Filipinos out of work as unemployment rate hits 4.9% in June

MANILA, Philippines — The country’s unemployment rate climbed to 4.9 percent in June, up from 4.8 percent in May, as the number of jobless Filipinos increased to 2.59 million from 2.50 million, the Philippine Statistics Authority (PSA) reported on Thursday.

Despite the uptick in joblessness, the labor market showed mixed signals elsewhere, with both the number of employed Filipinos and overall labor force participation posting gains.

The number of employed Filipinos rose to 50.66 million in June from 49.63 million in May. Even so, the employment rate slipped slightly to 95.1 percent from 95.2 percent the previous month, a reflection of the faster growth in the overall labor force relative to job creation.

Labor force participation, meanwhile, strengthened notably. A total of 53.25 million Filipinos were either employed or actively seeking work in June, translating to a participation rate of 65.1 percent — up from 52.13 million, or 63.8 percent, in May.

Underemployment also edged higher. The PSA reported that 6.11 million employed Filipinos were seeking additional work or longer hours to boost their income, up from 6.04 million in May. The underemployment rate, however, eased slightly to 12.1 percent from 12.2 percent, as the pool of employed workers expanded at a faster pace.

READ: Unemployment rate rose to 4.8% in May

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