3.88 million Filipinos jobless - PSA
MANILA - Unemployment accelerated in August compared to the previous month, according to the latest Labor Force Survey released Thursday by the Philippine Statistics Authority.
Unemployment is at 8.1 percent for the month of August compared to 6.9 percent in July, which means 3.88 million Filipinos were jobless for the month, National Statistician Dennis Mapa said in a virtual press conference.
The data reflected Metro Manila's return to enhanced community quarantine in August.
The rise in the unemployment rate was driven by the declines in jobs in education, health, administrative support services, construction and manufacturing, data showed.
The education sector is projected to lose some P11.025 trillion over the next 40 years due to the COVID-19 pandemic, the National Economic and Development Authority (NEDA) earlier said.
Job losses in the sector, as well as the decline in productivity, contributed to the estimate as parents cut working hours to supervise homeschooling, NEDA said.
Job losses in the education sector are seen to decline after President Rodrigo Duterte approved the select implementation of face-to-face classes, economic managers said in a joint statement.
Underemployment, meanwhile, improved to 14.7 percent for the month from 20.9 percent in July. This means about 6.48 million were underemployed or needing more work hours or opportunities.
The improvement in underemployment is proof that the government managed the COVID-19 restrictions better with the implementation of recalibrated lockdown, the economic managers said.
"While the unemployment rate slightly increased, net job creation was significant and the underemployment rate decreased substantially," the statement said.
The employment rate reached 91.9 percent in August, lower compared to the 93.1 percent in July, the PSA said. This translates to 44.23 million employed individuals.
Labor force participation rose to 63.6 percent from 59.8 percent as more people rejoined the workforce.
-- with reports from Warren De Guzman, ABS-CBN News