Employment rate sa bansa, tumaas sa 96.9% nitong June 2024

Transcript

00:00A large number of Filipinos got a job this June.

00:04Based on the data of the Philippine Statistics Authority,

00:07around 50.28 million Filipinos got a job.

00:11On the net,

00:12the increase of investment in the country is one of the factors that added to the employment growth.

00:18Sujin Kim has the details.

00:2050.28 million Filipinos got a job or business this June 2024.

00:31The employment rate increased by 96.9%.

00:34This means that 1.41 million Filipinos got a job from May to June.

00:41The increase in the number of employees,

00:44most of them are from private establishments.

00:49In terms of quality, it's also good.

00:51The expectation is that it will continue.

00:55Meanwhile, the number of Filipinos without a job decreased.

01:00In just one month,

01:02the number of unemployed Filipinos decreased by almost 500,000.

01:07It's one of the lowest unemployment rates since April of 2005.

01:14The number of Filipinos underemployed increased by 12.1%.

01:17The underemployment rate was 12.1% from 9.9% in May.

01:24This is a significant increase compared to the underemployment rate in June 2023.

01:30MAPA explains that this is because the number of employed has increased.

01:34But not all of them are absorbed as full-time workers.

01:38For the sectors that form the largest part of the labor force,

01:42the services sector is still leading, followed by agriculture and industry.

01:47For the sub-sectors, construction, wholesale and retail trade,

01:54repair of motor vehicles, accommodation and food service,

01:57manufacturing and transportation are the largest.

02:00Meanwhile, the sub-sectors that have the largest decrease in the number of employed

02:05are agriculture and forestry,

02:07as well as public administration and defense.

02:09In our agri-sector,

02:11there is a decrease year on year.

02:15There is a substantial decrease in the number of employed.

02:21In May, the number of unemployed was higher.

02:26This is reflected in our labor market.

02:28The number of Filipinos who work more than 40 hours a week also increased.

02:33The average hours worked in a week was recorded at 40.9 hours.

02:38This is higher.

02:40We have an expectation that employment will bounce back in our agri-sector.

02:49According to the National Economic and Development Authority,

02:52the growing population in the country when it comes to renewable energy,

02:56water supply and mining and quarrying also contributed to employment growth.

03:00Sujin Kim for Pambansang TV in Bagong, Philippines.