Jobless rate climbs to 3.9% in October

The number of unemployed Filipinos rose in October from a month ago as typhoons that hit the country led to a decline in people taking part in the labor market, according to the Philippine Statistics Authority (PSA).

- By LOUELLA DESIDERIO

In a press conference yesterday, National Statistician Dennis Mapa said the country's unemployment rate went up to 3.9 percent in October from 3.7 percent in September.

The October unemployment rate, however, declined compared to the 4.2 percent posted in the same month last year.

In terms of magnitude, there were 1.97 million jobless Filipinos in October, higher than the 1.89 million in September, but lower than the 2.09 million unemployed Filipinos in October last year.

The country's employment rate declined to 96.1 percent in October from 96.3 percent in September, but went up from 95.8 percent in October 2023.

This translates to 48.16 million employed Filipinos in October, lower than the 49.87 million in September, but up from 47.79 million in October 2023.

The underemployment rate also increased to 12.6 percent in October from 11.9 percent a month ago and 11.7 percent in October 2023.