Unemployment steady, underemployment falls in January

ABS-CBN News

Posted at Mar 05 2020 10:50 AM

MANILA – Unemployment rate in the country remained steady in January compared to the previous year while underemployment fell, official data released Thursday showed.

The Philippines maintained a 5.3 unemployment rate in January with the estimated number of unemployed persons at 2.39 million from 2.28 million from the previous year, data from the Philippine Statistics Authority (PSA) showed.

Total employed persons rose to 42.65 million from 41.03 million during the same comparable period, it said. The employment rate was stable at 94.7 percent, the PSA said.

Underemployment, or workers who expressed desire to have additional work hours, declined to 14.8 percent compared from 15.4 percent. The total underemployed persons was at 6.32 million from 6.33 million, the PSA said.

Unemployment steady, underemployment falls in January 1
Unemployment and underemployment rate in January 2020. Processed by: ABS-CBN Data Analytics. Source: PSA

The labor force participation rate in January rose to 61.7 percent from 60.3 percent.