Jobless rate eases to 3.9% in August

Unemployment in the country declined in August as jobs lost due to typhoons in the previous month were recovered, according to the Philippine Statistics Authority (PSA).

- LOUELLA DESIDERIO

Preliminary results of the Labor Force Survey released by the PSA yesterday showed that the unemployment rate dropped to 3.9 percent in August from the previous month's 5.3 percent and four percent in the same month last year.

This translated to 2.03 million jobless Filipinos in August, down from the previous month's 2.59 million and 2.07 million in August 2024.

In a press conference, National Statistician Dennis Mapa said the typhoons that hit the country in July affected employment in industries, particularly agriculture, retail trade and construction.

He said these sectors have since recovered. “So in a way, the job losses in July seem temporary.”

Leonardo Lanzona Jr., economics professor at the Ateneo de Manila University said in an email that the slight increase in factory output in August may have also contributed to the lower unemployment.