The number of unemployed Filipinos rose to 2.22 million in December 2022 from the estimated 2.18 million unemployed in the preceding month, the Philippine Statistics Authority said on Wednesday.
The data translated to an unemployment rate of 4.3 percent in December 2022, slightly higher than the 4.2 percent rate recorded in November, even if it was the peak of the holiday season at the time.
However, the PSA did point out that the unemployment rate for December 2022 was the second-lowest since 2005, just behind the rate for November 2022.
Additionally, the unemployment rate was considerably lower than the 6.6 percent unemployment rate in December 2021.
“The difference between the December and November figures is not significant (statistically speaking),” National Statistician and PSA Undersecretary Dennis Mapa said in a press conference.
Meanwhile, some 6.2 million underemployed Filipinos expressed the desire to have additional work hours, a different job, or a new job with longer hours in December, down from 7.16 million in November.
This translated to an underemployment rate of 12.6 percent in December, lower than the 14.4 percent recorded the previous month.
“The holiday rush provided stable work in December, while better job quality might not be sustainable as strong demand fades,” Mapa explained.
Top employment contributors in December 2022 included the wholesale and retail trade, other service activities, and accommodation and food service outlets, which were boosted by the full resumption of commercial activities, pent-up demand, and holiday spending.
This was tempered, however, by losses in agriculture due to weather disturbances and the spread of infectious diseases among livestock and poultry.
Gov’t remains committed
National Economic and Development Authority Secretary Arsenio Balisacan said the government “remains committed” to providing more, better, and green job opportunities to Filipinos and sustaining a vibrant labor market through the strategies articulated in the Philippine Development Plan 2023-2028.
“We are steadfast in pursuing this year’s growth target amidst global and domestic risks to ensure that jobs are preserved and new employment is generated,” Balisacan said.
“Generating more and high-quality jobs in the agriculture sector and ensuring food security for Filipinos remain part of our top priorities,” he added.
Balisacan said that increasing the income-earning ability of Filipinos entails developing their employability in the market, as emphasized in the Philippine Development Plan 2023-2028.
Alongside providing high-quality jobs, NEDA said the government should ensure that their skills are not just aligned with current in-demand requirements but could also continuously keep up with the demands of evolving and emerging jobs.
“Crucial to achieving social and economic transformation is the transformation of talent that would create an agile labor force and sustain labor market gains. We will leverage our momentum to ensure (our economy’s) rapid and dynamic growth,” he added.