The unemployment rate in the Philippines declined to 3.8 percent in February 2025, easing from 4.3 percent in January, but edging up from 3.5 percent in February 2024, according to the Philippine Statistics Authority’s Labor Force Survey.
Employment in the country improved, with 48.49 million people employed in January 2025, an increase from 45.90 million in January 2024. The employment rate stood at 95.7 percent, slightly higher than the 95.5 percent recorded a year prior.
The Philippine unemployment rate was steady at 3.1 percent in December 2024, unchanged from the previous year and slightly lower than November’s 3.2 percent.
Philippine unemployment rate declined to 3.2 percent in November 2024 from 3.9 percent in October, with the number of jobless Filipinos down to 1.66 million from 1.97 million in the previous month, the Philippine Statistics Authority reported on Wednesday, Jan. 8, 2025.
The country's jobless rate hit 3.9 percent in October 2024, up from 3.7 percent in September, but remained lower than the 4.2 percent recorded in October 2023, according to data from the Philippine Statistics Authority (PSA).
The Philippine job market showed significant improvements in September 2024, with the unemployment rate falling to 3.7 percent from 4.5 percent in September 2023 and 4 percent in August 2024.
The National Economic and Development Authority said this improvement signals a stronger labor market as the holiday season approaches, raising optimism for increased consumer spending and economic activity.
Finance Secretary Ralph G. Recto on Friday highlighted the notable decrease in the Philippines' unemployment rate, which fell to a remarkable 3.5% in February 2024 from 4.8% the previous year.