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Philippines’ unemployment rate dips slightly to 4.7%

by Carl Santos

The Philippines’ unemployment rate fell slightly to 4.7% in March from 4.8% in February, government data showed on Monday, May 8. 

According to the Philippine Statistics Authority, the number of unemployed Filipinos stood at 2.42 million in March, compared to 2.47 million in February. 

There were 5.44 million underemployed Filipinos, or an underemployment rate of 11.2%. This is lower than the 6.29 million, or 12.9%, posted in February.

The employment rate increased to 95.3% in March 2023, representing 48.58 million Filipinos, from 94.2% in the same period last year.  

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