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Philippines: Jobless rate steadies in June but new lockdowns may erase gains
MANILA, Philippines (Update 1, 10:22 a.m.) — The Philippine Statistics Authority reported that jobless rate was steady in June, but looming harsh lockdowns in Metro Manila could throw a spanner in the works.
In a briefing, National Statistician Claire Dennis Mapa reported there were 3.76 million people who were either unemployed or out of business in June, higher than 3.73 million in May. That translates to unemployment rate of 7.7% in June, unchanged from May.
Quality of available jobs also deteriorated. Underemployment rate rose to 14.2% in June to 6.41 million, higher than 12.3% rate chalked up in May.
Top of mind reasons for unemployment cited among the 11,081 households surveyed were medical limitations and strict lockdown measures. “If you have very restricted situation, the movement of workers would also be restricted,” Mapa said.
Still, data shows people attempted to look for jobs in June amid less strict curbs. The labor force participation rate, representing people aged 15 years and above who are actively looking for work, grew 65.0% in June to 48.84 million from 64.6% rate in the preceding month.
But considering how the local labor market quickly reacted to tightening of lockdown measures in the past, PSA’s Mapa said the looming two-week enhanced community quarantine in Metro Manila this month could wipe out some gains in restoring jobs lost amid the pandemic.
“That (lockdown) would have an effect in the August figures,” he said.
Economic managers agreed with Mapa. “The labor force survey results for June 2021 show the limits of job creation without major relaxations in quarantine restrictions, especially in the National Capital Region,” they said in a joint statement.
Source: https://www.philstar.com/business/2021/08/03/2117276/jobless-rate-steadies-june-new-lockdowns-may-erase-gains