This figure, which equals the low recorded in December 2023, represents the lowest unemployment rate since 2005. The improvement is attributed to an increase in labor force participation, particularly in the construction sector, which has benefited from heightened economic activity.
Despite the positive trend in overall employment, the underemployment rate saw an uptick. In June, 12.1 percent of employed individuals were seeking additional work or longer hours, up from 9.9 percent in May. This translates to approximately 6 million Filipinos looking to supplement their current employment, marking the highest underemployment rate since April.
The labor force participation rate (LFPR) showed a slight increase to 66 percent in June, up from 64.8 percent in May, although it remained below the 66.1 percent recorded a year ago. Concurrently, the employment rate rose to 96.9 percent, surpassing May's 95.9 percent. These figures indicate that more Filipinos are actively engaging in the job market, with the total number of employed individuals reaching 50.2 million in June.
Sector-wise, services continued to dominate employment, accounting for 58.7 percent of all jobs. Agriculture and industry followed, representing 21.1 percent and 20.2 percent of employment respectively.
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