THE number of unemployed Filipinos declined in July 2021, according to the Philippine Statistics Authority (PSA).
PSA data showed there were 3.1 million unemployed persons who are 15 years old and over in July 2021 — lower by 1.5 million than the 4.6 million reported in July 2020.
The data also showed the July 2021 figure is lower by 0.7 million than the 3.8 million reported in June 2021.
“Unemployment rate in July 2021 was estimated at 6.9 percent and it is the lowest since the pandemic in April 2020,” PSA said.
However, the PSA noted that the country’s Labor Force Participation Rate (LFPR) in July 2021 fell to 59.8 percent.
This is equivalent to 44.7 million Filipinos who were either employed or unemployed.
PSA said the July 2021 LFPR is the lowest reported rate this year, from 60.5 percent in January 2021 and 63.2 percent in April 2021. The July 2021 LFPR is also lower than the 61.9 percent in July 2020.
More underemployed
Meanwhile, there was an increase in the number of underemployed persons in July 2021, according to PSA.
Data showed these were estimated at 8.7 million in July 2021 or 20.9 percent of the 41.7 million employed individuals during the period. This is the highest underemployment rate since the pandemic in April 2020.
Those who are visibly underemployed or those working less than 40 hours in a week but still expressed the desire to have additional hours of work in their present job, or to have additional jobs, or to have a new job with longer working hours, was estimated at 4.5 million or 10.8 percent of the total employed persons.
For the invisibly underemployed or those working at least 40 hours in a week but still expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer working hours, the number reached 4.2 million or 10 percent of the total employed persons.
The country’s employment rate in July 2021 was placed at 93.1 percent. PSA said this is the highest employment rate since the pandemic in April 2020. The employment rate in July 2020 was reported at 90 percent.
In terms of magnitude, employed persons were estimated at 41.7 million in July 2021 or 3.4 million lower than the estimate in June 2021 at 45.1 million, and 0.4 million more than the estimate for July 2020 at 41.3 million.