Jobless rate eases to 3.5% in February

The country's unemployment rate declined in February as more employment opportunities were created in the wholesale and retail trade and agriculture sectors, according to the Philippine Statistics Authority (PSA).

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In a press conference, National Statistician Dennis Mapa said preliminary results of the Labor Force Survey showed the jobless rate was at 3.5 percent in February, down from 4.5 percent in January this year and 4.8 percent in February 2023.

This translates to 1.80 million unemployed Filipinos in February, lower than the 2.15 million in January and the 2.47 million in February last year.

Mapa said the unemployment level in February is the underemployment rate in February was at 12.4 percent, down from 13.9 percent in January and the 12.9 percent in the same period last year.