Ifugao.

The country’s unemployment rate has gone down to prepandemic levels, declining to 4.2 percent in a labor survey conducted in November 2022, according to the Philippine Statistics Authority. Despite the lower jobless rate, the National Economic and Development Authority (Neda), however, reaffirmed its push for the creation not only of more jobs but also “higher-quality” jobs.

The unemployment rate in November was better than the 4.5 percent recorded in October 2022 and the 6.5 percent rate registered in November 2021.

At the onset of the COVID-19 pandemic in April 2020, the jobless rate shot up to 17.6 percent.

Despite the lower jobless rate, the National Economic and Development Authority (Neda), however, reaffirmed its push for the creation not only of more jobs but also “higher-quality” jobs.

More dynamic labor market

The unemployment rate, a measure of an economy’s health started improving, albeit gradually, since September 2021 when the unemployed represented 8.9 percent of the population that have jobs and are available to work. In particular, the unemployment rate has been improving month after month since 5.3 percent in August. National Statistician Dennis Mapa said in a briefing that the lower jobless rate was mainly due to the yearly rev up of economic activities in the fourth quarter, particularly due to the long holidays.

Seasonal jobs

But Mapa said that—as was usual with the seasonal occurrences in the job market toward the end of the year—the number of the underemployed rose in November by 488,000 to 7.16 million from 6.67 million in October. The underemployment rate increased to 14.4 percent from 14.2 percent. The underemployed are those who seek additional work hours, a new job or a new job with additional working hours. Mapa said many of those who found employment in November have temporary jobs that are seasonal with the holidays.

For research group IBON, however, the latest jobs data showing huge spikes in part-time and informal jobs belied government claims of a strong labor market and steady economic recovery. “The Marcos administration needs to give more serious attention to the worsening informality of employment instead of hyping economic growth if it is to address the poor jobs situation of millions of Filipinos,” IBON said.