THE Philippines’ unemployment rate climbed in March due to the effects of the ongoing El Niño phenomenon and the African swine fever (ASF) on the agriculture sector, the Philippine Statistics Authority said on Wednesday.
The PSA said there were 2 million unemployed Filipinos in March, translating to an unemployment rate of 3.9 percent based on the labor force of 51.15 million Filipinos aged 15 and above. The number is .4 higher than the 3.5 percent seen in February.
The underemployment rate, however, fell to 11 percent from 12.4 percent in February. This means there were 5.39 million Filipinos looking for additional work hours or extra jobs.
Employed persons stood at 49.15 million in March 2024, equivalent to an employment rate of 96.1%, which is .4 percent lower compared with the 48.95 million in February.
The biggest declines were seen in agriculture and forestry which fell by 318,000; transportation and storage by 292,000; construction by 214,000; administrative and support service activities by 118,000; and human health and social work activities by 75,000.
