Unemployment rate for February remains at 4.8%
The unemployment rate in February also remained at its previous month’s rate of 4.8 percent.
In terms of level, the number of unemployed persons was 2.47 million out of 51.27 million Filipinos who were in the labor force in February.
The employment rate stayed at the previous month’s rate of 95.2 percent. In February 2022, the employment rate was lower at 93.6 percent.
In terms of magnitude, the number of employed persons in February was estimated at 48.80 million, higher by 3.32 million from the 45.48 million employed persons reported in February last year.
The labor force participation rate (LFPR) in February was registered at 66.6 percent or 51.27 million individuals who were either employed or unemployed out of the 77 million Filipinos aged 15 years and over.
The reported LFPR in February was higher than the January and February 2022 LFPR at 64.5 percent and 63.8 percent, respectively.
The number of underemployed persons or those employed persons who expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work was recorded at 6.29 million.
This translates to an underemployment rate of 12.9 percent, which was lower than the reported underemployment rate in February 2022 (14 percent) and in January (14.1 percent).
The average weekly hours worked by an employed person in February 2023 was estimated at 39.5 hours per week. This was slightly lower than the average weekly hours worked in January of 39.6 hours and February 2022 of 40.8 hours.
By broad industry group, services sector consistently dominated the labor market with 59.6 percent share to the total employed population in February. The agriculture and industry sectors accounted for 24.1 percent and 16.3 percent of the total employed persons, respectively.
The top five sub-sectors with the highest year-on-year change in the number of employed persons from February 2022 to February 2023 were the following:
a. Wholesale and retail trade, repair of motor vehicles and motorcycles (701,000);
b. Accommodation and food service activities (580,000);
c. Agriculture and forestry (554,000);
d. Other service activities (362,000); and
e. Fishing and aquaculture (340,000).
In contrast, the top five subsectors with the largest drop in terms of employed persons from February 2022 and February 2023 were the following:
a. Human health and social work activities (-129,000);
b. Construction (-103,000);
c. Mining and quarrying (-60,000);
d. Information and communication (-55,000); and
e. Manufacturing (-38,000).
In February, wage and salary workers continued to contribute the largest share of employed persons with 60.9 percent of the total employed population 15 years old and over.
This was followed by self-employed persons without any paid employee at 27.2 percent and unpaid family workers at 9.8 percent. Employer in own family-operated farm or business had the lowest share of 2.1 percent.
Among wage and salary workers, employed persons in private establishments made up 46.6 percent of the total employed, followed by employed in government or government-controlled corporations with 9.4 percent share. Philippine Statistics Authority
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''Amang'' could make landfall over Bicol: Pagasa
Tropical Depression "Amang" could make landfall around 2 am Wednesday over Bicol region, especially Catanduanes, the Philippine Atmospheric, Geophysical and Astronomical Services (Pagasa) said Tuesday.
The Philippine Atmospheric, Geophysical and Astronomical Services (Pagasa) said a marine gale warning is in effect over Catanduanes, the eastern coasts of Albay and Sorsogon, and the northern and eastern coasts of Northern Samar and Eastern Samar.
Pagasa said the center of "Amang" was monitored in 35 km east northeast of Virac, Catanduanes or 260 km east of Daet, Camarines Norte.
''Amang'' had maximum winds of 55 km/h near the center and gusts of up to 70 km/h. It was moving westward at 30 km/h.
Tropical Cyclone Warning Signal Number One was hoisted over Catanduanes, Sorsogon, Albay, Camarines Sur, Camarines Norte, Quezon including Pollilo Islands, Marinduque, Masbate ( including Ticao Island, Burias Island, Rizal, Laguna (San Pablo City, Alaminos, Calauan, Bay, Los Banos, Rizal, Nagcarlan, Victoria, Pila, Liliw, Magdalena, Majayjay, Luisiana, Cavinti, Pagsanjan, Santa Cruz, Lumban, Kalayaan, Paete, Pakil, Pangil, Siniloan, Famy, Santa Maria, Mabitac), Aurora, Bulacan (Norzagaray, Dona Remedios Trinidad, San Miguel, San Ildefonso), Quirino, Nueva Vizcaya (Kasibu, Dupax del Norte, Dupax del Sur, Alfonso Castaneda), Nueva Ecija (General Tinio, City of Gapan, Penaranda, San Leonardo, Santa Rosa, Cabanatuan City, Talavera, San Jose City, Carranglan, Pantabangan, Llanera, General Mamerto Natividad, Rizal, Bongabon, Laur, Palayan City, Gabaldon) and Isabela (Echague, San Agustin, Jones, Dinapigue, San Mariano, San Guillermo, Palanan, Angadanan, Benito Soliven, City of Cauayan).
Also under signal no.1 in Visayas were Northern Samar, Samar (Calbayog City, Matuguinao, San Jose de Buan, Gandara, Santa Margarita, San Jorge) and Eastern Samar (Jipapad, Maslog, Arteche, Oras, San Policarpo, Dolores). Eric Acidre/DMS
