The Philippine Statistics Authority reported that some 2.93 million Filipinos were unemployed as of May as the available jobs were not enough for those looking for work after the economy fully reopened from the pandemic restrictions. The resulting unemployment rate of 6 percent is worse than the 5.7 percent in April.
The PSA May survey showed that the labor force population – or those age 15 and above, with or without work – rose to 49.01 million in May from 48.39 million in April and 48.46 million in May of last year.
While the number of Filipinos with jobs increased to 46.08 million in May, a bigger number of Filipinos entering the labor market outpaced job creation, resulting in the higher unemployment rate.
Despite the rising unemployment rate, National Statistician Dennis Mapa believes there is an improvement in the employment outlook as the number of employed individuals increased by 1.4 million between May 2021 and 2022. Significant employment gains were recorded in the services sector as tourism and business outlook improved with the further easing of restrictions.
Interestingly, the National Economic and Development Authority said net employment creation is 3.5 million above prepandemic levels. Underemployment, or employed Filipinos wanting higher pay or longer working hours, remains high at 14.5 percent in May.
The May rise in unemployment was pinned on the end of the harvest season which is responsible for 733,000 workers losing their jobs.
With the prices of goods increasing and inflation rising, the creation of quality jobs now becomes an even more serious concern for government, as unemployed and underemployed Filipinos are the ones who will struggle most during these difficult times. If their income is not improved somehow, millions more of our countrymen will require even more government assistance just to survive.
A robust and vibrant economy will create more jobs, as will a revitalized agriculture sector. Government can also provide work through its many ongoing and future projects that are usually manpower intensive. If we are to weather the storms of this era, our government and those heading it must maximize all the job creation opportunities available.*
