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3:34 pm on 6 January 2023, Friday
The Philippine Statistics Authority (PSA) reported Friday that the unemployment rate in November 2022 slipped to 4.2%, representing some 2.18 million jobless Filipinos.
The November data is lower than the 4.5% logged in October 2022, representing some 2.24 Filipinos. It is also lower than the 6.5% recorded in November 2021.
The employment rate was placed at 95.8% in November 2022, the highest recorded employment rate since April 2005.
In terms of levels, there were 49.71 million persons 15 years old and over who were employed in November 2022, 47.11 million in October 2022, and 45.47 million in November 2021.
The survey also showed that by sector, the services sector continued to dominate the employment market, taking the lion’s share of employed persons at about 60.5%. This is followed by agriculture and the industry sectors accounting for 21.4% and 18.1% of the employed persons, respectively.
In its year-end report last month, the Marcos administration said the country recorded 46.3 million employed Filipinos across multiple sectors from January to October 2022.
“The employability of the Filipino worker is vital to building a strong labor force. Maintaining a high degree of employability requires the continuous upgrading of skills and knowledge,” the administration report said. GDM STAFF