By Chloe Mari A. Hufana, Reporter
UNEMPLOYMENT within the Philippines eased to 4% in August as extra feminine staff obtained employed within the service sector, the native statistics company mentioned on Tuesday.
Preliminary information from the Philippine Statistics Authority’s (PSA) labor pressure survey confirmed the jobless charge fell from 4.7% in July and 4.4% in August final 12 months.
This translated 2.07 million unemployed Filipinos, down by 305,000 from July and by 149,000 from a 12 months earlier.
“A significant component that we noticed in August 2024 is that many ladies participated within the labor pressure and lots of of them have been absorbed by our labor market,” PSA Undersecretary and Nationwide Statistician Claire Dennis S. Mapa advised a information briefing in blended English and Filipino.
About 1.03 million feminine staff joined the labor pressure, most of whom labored for greater than 40 hours every week, he added.
Nationwide Financial and Improvement Authority Secretary Arsenio M. Balisacan mentioned Filipinos “are in for a probably higher vacation season as the most recent labor survey confirmed promising labor market outcomes.”
He mentioned fast-tracking key infrastructure initiatives in power, logistics and bodily and digital connectivity is essential to attracting investments in higher-value-added sectors, resembling manufacturing and agribusiness, and boosting labor productiveness.
“With the federal government’s continued deal with attracting strategic investments and the well timed passage of key reforms, the Philippines is well-positioned to translate its promising macroeconomic fundamentals into long-term prosperity for its workforce and financial system,” he added.
The labor pressure participation charge amongst feminine Filipino staff rose to 54.7% from 52.4% in July and 52.9% in August final 12 months. For male staff, the speed dipped to 74.8% from 76.3% a 12 months in the past. It was 74.5% in July.
The employment charge in August rose to 96% from 95.3% in July and 95.6% a 12 months in the past, equal to 49.15 million employed Filipinos.
The employment charge for girls rose to 95.3% from 94.8% in July and 95.1% a 12 months earlier. The speed amongst male staff additionally rose to 96.5% from 95.6% in July and 96% in August final 12 months.
INCREASED DIGITALIZATION
The entry of contractual staff on account of digitalization resulted in additional ladies being employed in August, mentioned Leonardo A. Lanzona, Jr., an economics professor on the Ateneo de Manila College.
“Basically, ladies are involved with different components that aren’t associated to compensation,” he mentioned in a Fb Messenger chat. “Higher engagement in digital labor platforms allowed them to search out additional revenue with out leaving dwelling and their kids.”
He mentioned extra feminine staff being employed just isn’t seasonal, however a results of rising digitalization and extra versatile working hours, typically on the expense of decrease pay.
“These jobs provide little or no safety and are typically very unstable,” Mr. Lanzona mentioned. “ In actuality, individuals don’t desire a majority of these jobs however are pressured to just accept them within the absence of higher choices.”
“Bettering working situations can solely be achieved if extra choices within the home labor markets can be found,” he added.
Benjamin B. Velasco, assistant professor on the College of the Philippines College of Labor and Industrial Relations in Diliman, mentioned the decrease unemployment and underemployment charges and better feminine labor participation are “welcome information.”
“We simply want to concentrate on two issues,” he advised BusinessWorld through Messenger chat. “First, the advantageous print — employed means working for at the very least one hour previously week, and second, these optimistic figures are solely episodic or short-term adjustments.”
He additionally famous that the feminine labor pressure participation charge was larger in June at 55.8% and March at 55.1%. “So positively, it’s not a long-term development,” he added, noting that the speed rises and falls barely, however the long run is at 50%.
“Which means, half of working-age ladies don’t work and are outdoors the labor pressure.”
Job high quality barely improved in August because the underemployment charge dipped to 11.2% from 12.1% in July and 11.7% a 12 months earlier.
This meant 5.48 million Filipinos with jobs have been nonetheless searching for extra work or longer working hours, in contrast with 5.78 million underemployed staff in July and 5.63 million a 12 months earlier.
“The Employers Confederation of the Philippines (ECoP) has emphasised that whereas declining unemployment charges are optimistic, there’s a continued have to deal with creating high-quality jobs, particularly for sectors like retail and wholesale, which considerably contributed to employment positive factors,” ECoP Governor Arturo C. Guerrero III advised BusinessWorld in a Viber message.
“ECoP additionally advocates enhancing staff’ expertise to satisfy business calls for, guaranteeing sustained job development and financial resilience,” he added.
“Let’s hope that extra jobs will open for our countrymen as a result of continued lower within the inflation charge, which can strengthen the revenue of our companies and each household,” Finance Secretary Ralph G. Recto mentioned in a press release in blended English and Filipino.
“The most recent financial coverage easing as a result of deceleration of inflation can even encourage additional development in consumption and funding that interprets to extra high quality employment for Filipinos. Extra and higher jobs will enable Filipino households to spend extra, boosting our financial system,” he added.
Mr. Mapa mentioned they count on employment figures to enhance additional this quarter, as company earnings and the financial system get boosted by elevated consumption.
“The expectation is that individuals spend extra since they may have more cash from their thirteenth month pay,” Mr. Velasco mentioned. “These are seasonal or episodic bumps however sadly don’t signify a long-term shift in employment.”
“The construction of the financial system has not modified so we are able to’t count on additionally a qualitative change in employment,” he added.
Federation of Free Employees President Jose Sonny G. Matula in a Viber message mentioned rising wages is essential since Filipinos are more likely to spend their more money regionally, successfully boosting the financial system.
The common Filipino employee labored 40.7 hours every week in August, a slight decline from 41.1% in July and 40.8 hours a 12 months earlier.
The service sector remained the highest employer with an employment charge of 63.3%, adopted by agriculture at 19.3% and business at 17.4%.
Bukluran ng Manggagawang Pilipino Nationwide President Renecio “Luke” S. Espiritu mentioned precarious working situations and the absence of safety of tenure have an effect on ladies essentially the most.
“They’re those left to take care of the family as unpaid reproductive labor, typically resorting to unstable sideline jobs or attending to small household retail companies to deal with rising costs and so as to add to their companion’s hunger wages,” he mentioned in a Fb Messenger chat.
