8 Nov 2023 – PH jobless rate slightly up to 4.5% in Sept

Published by rudy Date posted on November 6, 2023

By:  – @inquirerdotnet

/ 10:20 AM November 08, 2023

A nationwide survey of 11,156 households showed there were 2.26 million people who were either jobless or out of business in September, a tad higher than 2.21 million recorded in August, the PSA said.

The slight increase in joblessness coincided with a drop in the number of people aged 15 and above who actively searched for jobs during the month. Data showed the country’s labor force participation rate fell to 64.1 percent in September, from 64.7 percent in the preceding month.

Also, the PSA reported a decline in the number of people who sought more working hours to augment their income, a likely indication of better job quality.

The PSA said there were 5.11 million underemployed people in September, down from 5.63 million in August.

This is equivalent to an underemployment rate of 10.7 percent in September, easing from 11.7 percent in August.

 

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