Jobless rate down to 4.7% in March 2023
The unemployment rate in the Philippines improved to 4.7 percent in March with 2.42 million Filipinos available and looking for jobs, according to preliminary data at the Philippine Statistics Authority.
In March, the number of jobseekers decreased by 58,000 compared with February and by 461,000 compared with March 2022.
The jobless rate was 4.8 percent last February and 5.8 percent in March last year.
The industries that contributed most to reducing the ranks of the jobless were transportation and storage; accommodation and food service activities; wholesale and retail trade; and construction.
On the other hand, the industries where most jobs were lost include agriculture and forestry; financial and insurance activities; manufacturing; and human health and social work activities.