Manila, Philippines – The number of unemployed Filipinos increased by 2 million in March 2024, according to the Labor Force Survey by the Philippine Statistics Authority (PSA).
Data from the PSA indicate that 205,000 Filipinos lost their jobs during this period.
Consequently, the unemployment rate rose from 3.5% in February 2024 to 3.9% in March 2024, though it remains lower than the 4.7% recorded in March 2023.
PSA National Statistician and Civil Registrar General Undersecretary Claire Dennis Mapa noted that the decrease in employment primarily occurred in the agricultural sector, especially in fisheries and aquatic resources.
“Ang isa sa naaapektuhan in terms of employment ang Agriculture Sector, kasama na rin ang Fisheries.” says Usec. Mapa.
(“One of the sectors affected in terms of employment is agriculture, including fisheries,”)
“Dito sa month-on-month natin ang agriculture and forestry ay nagkaroon ng pagbaba sa employed persons about 318, 000.” he added.
(In our agriculture and forestry sector, there was a decrease in employed persons by about 318,000 month-on-month,)
The reduction in employment aligns with a drop in the value production of fisheries, crops, livestock, and other farming activities.
According to Usec. Mapa, the decline in value production and employment in agriculture is consistent with the impact of El Niño.
“narereflect doon sa ating value production and agriculture and fisheries, consistent naman yung datos sa employment and labor market statistics. So yes, they were affected by the El Niño”, Mapa further explained.
(It is reflected in our value production and agriculture and fisheries. The data is consistent with employment and labor market statistics. So, yes, they were affected by El Niño,)
Apart from the agricultural sector, there was also a decrease in employment in the transportation and storage, construction, and administrative support service activities sectors.
As a result, the overall employment rate in the country declined slightly from 96.6% in February to 96.1% in March.
The services sector remains the largest contributor to the country’s employment, increasing to 61.4%. The agricultural sector followed, but its share dropped from 21.3% in February to 20.5% in March. The industry sector remained stable at 18.1%.