00:00The employment situation in the Philippines is getting better.
00:04Based on the data of the Philippine Statistics Authority,
00:07this was the case last September this year.
00:10According to the PSA, the unemployment rate of the country
00:14decreased by 3.7% from 4.5% last year.
00:19In the same month, it also decreased by 4.0% as recorded in August 2024.
00:24This is equivalent to 1.89 million unemployed,
00:28which is lower than 2.26 million in September 2023
00:34and 2.07 million in August 2024.
00:38At the same time, the unemployment rate increased by 96.3%
00:43from 95.5% in 2023,
00:46which is equivalent to 49.87 million Filipinos with jobs this September,
00:53which is higher than 47.67 million in 2023 in the same month
00:59and 49.15 million in August 2024,
01:03while the labor force participation rate also increased
01:06to 65.7% compared to 64.1% in September 2023.
01:12According to National Statistician Undersecretary Dennis Mapa,
01:16this is also due to the increase of unemployed this holiday season
01:21despite the calamities experienced in the past few months.
01:25This is also due to the increase of women working
01:29which has a big impact on the increase of the overall unemployment rate in the country.
01:35Yes, of course, because of the holiday season, more wants to work.
01:40That's why our unemployment rate increased in terms of both the rate and the numbers,
01:45but not all of it was absorbed full-time.
01:48And thus, you have also a substantial increase in the underemployment.
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