UNEMPLOYMENT was unchanged in February from a month earlier but job quality improved, the Philippine Statistics Authority (PSA) reported on Tuesday.
The country's jobless rate stayed at 4.8 percent while underemployment — those looking for more work or an extra job — improved to 12.9 percent from 14.1 percent in January.A year earlier, unemployment was higher at 6.4 percent and underemployment was at 14.0 percent.Employment was also unchanged month-on-month at 95.2 percent but improved from February 2022's 93.6 percent.The number of Filipinos with jobs rose to 48.8 million from 47.35 million in January and 45.
'The lifting of various restrictions that previously impeded employment opportunities has resulted in an increase in job prospects for Filipino workers,' he added.The National Economic and Development Authority particularly noted an improvement in unemployment among the youth — those aged 15 to 24 — which dropped to 9.1 percent from 14.2 percent a year earlier.It also pointed out that the labor force participation rate had risen to 66.6 percent from 63.8 percent year on year.
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