The unemployment rate in the Philippines has risen to 4.5 percent in June, with 2.33 million Filipinos actively seeking employment, according to preliminary data from the Philippine Statistics Authority.
National Statistician Dennis Mapa revealed that the number of jobseekers increased by 159,000 in June, compared to May when the jobless rate stood at 4.3 percent and 2.17 million people were unemployed.
However, there has been a decrease of 663,000 jobless Filipinos compared to June 2022, when the unemployment rate was 6 percent.
Between June and May, the industries that contributed the most to reducing unemployment were construction (which hired 488,000 workers), agriculture and forestry (which hired 469,000 workers), administrative and support service activities (which hired 308,000 workers), public administration and defense (which hired 128,000 workers), and accommodation and food service activities (which hired 104,000 workers).
On the other hand, the industries that saw the most job losses include fishing and aquaculture (which lost 575,000 jobs), transportation and storage (which lost 205,000 jobs), arts, entertainment, and recreation (which lost 124,000 jobs), real estate activities (which lost 99,000 jobs), and professional, scientific, and technical activities (which lost 97,000 jobs).
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.