THE country’s job market slightly improved in April as the number of unemployed recorded a marginal decrease from last year, the government reported on Tuesday.
The unemployment rate fell to 5.5 percent in April from 5.7 percent in the same month in 2017, the latest Labor Force Survey conducted by the Philippine Statistics Authority (PSA) showed.
This translated to 2.36 million jobless Filipinos in April 2018, compared with the 2.44 million who were out of work in the same month last year.
Consequently, the employment rate in April climbed to 94.5 percent from 94.3 percent a year earlier. This translates to 40.89 million employed Filipinos, up from 40.37 million in April 2017.
However, the underemployment rate, or the proportion of the employed wanting additional work hours, rose to 17 percent from 16.1 percent a year ago.
The latest reading represented about 6.93 million underemployed workers, higher than the 6.46 million a year ago.