People wearing protective masks are seen at a busy street in Manila, the Philippines, March 20, 2021. (Xinhua/Rouelle Umali)
MANILA, March 10 (Xinhua) -- The unemployment rate in the Philippines rose to 4.8 percent in January 2023 from 4.3 percent in December 2022, the Philippine Statistics Authority (PSA) said on Thursday.
PSA data showed 2.37 million Filipinos were out of work in January, higher than the 2.22 million in December 2022.
"The main factor that contributed to the high unemployment numbers in January was construction, with about 557,000," PSA head Dennis Mapa told a news conference, adding that the estimated unemployment rate in January was lower than the 6.4 percent a year earlier.
He said the Philippines recorded the highest unemployment rate in April 2020 at 17.6 percent at the height of the COVID-19 pandemic when the government imposed lockdowns to curb the spread of COVID-19, and the jobless rate started to drop from July 2020 until November 2022 when it stood at 4.2 percent.
According to the National Economic and Development Authority (NEDA), the labor force participation rate rebounded to 64.5 percent in January, equivalent to 49.72 million Filipinos in the labor force.
The latest employment indicators show the robust recovery and growth of Philippines' labor market, NEDA Secretary Arsenio Balisacan said.
"However, we note that employment created year-on-year was mostly part-time and classified as vulnerable. It is imperative that labor market policies and programs that directly contribute to labor productivity and employment generation must be prioritized, not only to preserve jobs but also to generate quality jobs," he added. ■
