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  • Writer's pictureZiggurat Realestatecorp

Unemployed Filipinos down to 3.07 million in July 2021

The number of unemployed Filipinos eased to 3.07 million in July, the Philippine Statistics Authority (PSA) said Tuesday.

PSA said this was lower than the 4.14 million unemployed Filipinos recorded in April 2021 and the 4.57 million in July 2020.

According to the agency, the unemployment rate in July 2021 was estimated at 6.9 percent and is “the lowest since the pandemic in April 2020.” It was also lower than the 7.7 percent unemployment rate in June when there were 3.8 million unemployed Filipinos.

PSA said six regions registered unemployment rates higher than the national estimate of 6.9 percent.

These are Metro Manila (9 percent), Central Visayas (8.8 percent), Bangsamoro Autonomous Region In Muslim Mindanao (8.2) percent, Bicol Region (7.9 percent), Calabarzon (7.7 percent) and Mimaropa (7.1 percent).

Meanwhile, the country’s employment rate was pegged at 93.1 percent in July, compared to 90 percent in June. Employed persons were estimated at 41.7 million in July, compared to the 45.1 million in June.

LFPR in July fell to 59.8 percent, equivalent to 44.7 million Filipinos who were either employed or unemployed. PSA said the July labor force participation rate (LFPR) is the lowest so far this year.

On the other hand, the number of underemployed persons was estimated at 8.7 million in July 2021 or 20.9 percent of the 41.7 million employed individuals during the month.

This is the highest underemployment rate since the pandemic in April 2020, according to PSA.

By industry group, the services sector still had the largest share of employed persons at 57.9 percent, followed by the agriculture sector at 22.1 percent. The industry sector had the least share of employed persons at 20 percent.

Employed individuals in the industry and services sectors rose by 7.2 percent and 6.6 percent, respectively, from July 2020 to July 2021. However, workers in the agriculture sector decreased by 15.5 percent.

LFPR was higher among men at 72.4 percent compared to women at 47.1 percent. Employment rate was 93.7 percent among men and 92.3 percent among women. But the unemployment rate among men was lower at 6.3 percent than among women at 7.7 percent.

Meanwhile, LFPR among youth in July 2021 decreased to 33.3 percent from the reported 38.9 percent in July 2020. Employment rate among youth increased by 7.0 percentage points from 77.6 percent in July 2020 to 84.6 percent in July 2021.

Source: PSA

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