Jobless rate down 3.1% in June

The country's jobless rate dropped to its lowest this year as more Filipinos were absorbed by the labor market, according to the Philippine Statistics Authority (PSA).

- BRIX LELIS

Based on preliminary data of the Labor Force Survey released by the PSA yesterday, the unemployment rate eased to 3.1 percent in June from 4.1 percent in May.

The figure is the lowest reported this year and matches the record low set in December last year, marking the lowest jobless rate in nearly two decades.

The unemployment rate in June also improved from 4.5 percent in the same month last year.

In terms of magnitude, the number of jobless Filipinos in June stood at 1.62 million, lower than 2.11 million in the preceding month and 2.33 million in June 2023.