Manila: The country's unemployment rate fell to its lowest level in three months, data from the Philippine Statistics Authority (PSA) showed. In a briefing on Tuesday, National Statistician Dennis Mapa revealed that preliminary results of the latest Labor Force Survey indicated a decline in the unemployment rate to 3.8 percent in February from 4.3 percent the previous month.

According to Philippines News Agency, this marks the lowest unemployment rate since the 3.1 percent recorded in December of the previous year. Mapa noted that the number of unemployed Filipinos decreased to 1.94 million from 2.16 million in January. Correspondingly, the employment rate rose to 96.2 percent in February, up from 95.7 percent in the preceding month.

Mapa highlighted that the number of employed individuals increased to 49.15 million, which is higher than both the 48.49 million recorded in January and the 48.95 million noted in February of the previous year. Industries experiencing the largest growth in employment included accommodation and food service, fishing and aquaculture, public administration and defense, construction, and other service activities.

Mapa attributed the rise in employment in accommodation and food service, as well as other service activities, to preparations for the midterm elections and the summer holidays. Additionally, the PSA's latest survey results indicated a decrease in the number of underemployed Filipinos. The underemployment rate fell to 10.1 percent, with an estimated 4.96 million individuals seeking additional work hours or new job opportunities, down from 13.3 percent in January.