The unemployment rate for May 2022 has increased to 6 percent from 5.7 percent in April, translating to about 2.93 million jobless Filipinos, up from April’s 2.76 million, said a data released by the Philippine Statistics Authority (PSA) on Thursday (June 7).
The PSA said May’s jobless rate was lower than the 7.7 percent recorded in the same month last year while the labor force population, or those 15 years old and above with or without work, rose from 48.39 million in April of the same year and 48.46 million in May last year to 49.01 million in May this year.
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The top five sub-sectors in terms of month-on-month increase in employment from April 2022 to May 2022 are wholesale and retail trade (1.12 million), construction (232,000), fishing and aquaculture (104,000), manufacturing (90,000), and transportation and storage (70,000) and the data says that more Filipinos are now with jobs from April’s 45.63 million and 44.72 million last year to 46.08 million in May this year.
The underemployment rate was at 14.5 percent in May, or some 6.67 million Filipinos employed wanted higher pay than the one they’re getting.
