Unemployment rate in May eased to its second lowest level this year, the Philippine Statistics Authority (PSA) reported on Thursday, July 1.

The number of jobless Filipinos dropped by 10 percent from 4.14 million in April to 3.73 million in May, equivalent to an unemployment rate of 7.7 percent.

May’s jobless report was lower than the unemployment rate in January (8.7 percent) and February (8.8 percent), but higher compared with 7.1 percent last March.

Labor force participation rate (LFPR) in May was placed at 64.6 percent, equivalent to 48.45 million individuals who were either employed or unemployed.

The May LFPR is higher than the reported in the months of January (60.5 percent), February (63.5 percent), and April (63.2 percent) of 2021.

Source: Manila Bulletin (