Number of jobless Filipinos eases in February

Job seekers attend a job fair at the College of Engineering at the University of the Philippines in Manila on January 16, 2014.MANILA, Philippines — The number of unemployed Filipinos decreased in the second month of 2024, posting an unemployment rate of 3.5%, the Philippine Statistics Authority reported on Thursday.

Mapa reported that the latest jobless rate numbers, at 1.6 million unemployed individuals, are the lowest since December 2023. According to the PSA, the following sectors had the most increase in employment on a month-on-month basis:Wage and salary workers continue to hold the largest share in the percentage among employed individuals, comprising 62.9% of the total employed persons in February 2024.

This is slightly higher than the 48.09 million Filipinos in December 2023 and the 51.27 million in February 2023. The Bangko Sentral ng Pilipinas is unlikely to cut banks’ reserve requirement ratio in the third quarter, amid expectations...

Inflation Jobs Labor Force Participation Philippine Statistics Authority Psa Underemployed Unemployed

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