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JULY UNEMPLOYMENT RISES TO 6%, EVEN AS EMPLOYMENT GROWS
The Philippine Statistics Authority reported today that 3.14 million Filipinos were unemployed in July, equivalent to 6% of the labor force. A year earlier, the figures were 2.59 million and 5.3%. These are July survey results released on September 8; they do not describe people losing their jobs today.
Employment also increased, reaching 49.21 million from 46.05 million a year earlier. Both figures can rise because the labor force itself grew. More people joined the pool of those working or available for work, and employment did not absorb everyone in that larger pool.
Having a job also does not tell us whether it provides enough work. The underemployment rate was 12.9%, representing 6.33 million employed people wanting additional hours, another job or longer working hours in a new job. That rate was lower than July last year, although millions still wanted more work.
For households, the questions extend beyond whether someone is counted as employed. Enough paid hours and dependable earnings determine whether food, rent and transport can be covered without borrowing.
WHAT TO WATCH
The next labor-force release will show whether employment continues to absorb the growing workforce. Watch unemployment alongside underemployment: improvement in one measure does not automatically mean families have enough income.