Unemployment rate in the Philippines rose to 4.0 percent in April 2024 from 3.9 percent in March and 3.5 percent in February, the Philippine Statistics Authority (PSA) said Thursday.
The figure, however, was lower than 4.5 percent recorded in April 2024.
The underemployment rate increased to 14.6 percent in April 2024 from 11 percent in March and 12.4 percent in February. It was also higher than 12.9 percent registered in April 2023, equivalent to 833,000 more underemployed individuals due to the higher number of invisibly underemployed.
The National Economic and Development Authority (NEDA) said the government remains committed to creating more high-quality jobs by investing in human capital, reinvigorating industry and priority sectors and pushing for massive infrastructure development, according to
Data show that the labor force participation rate (LFPR) went down to 64.1 percent in April from 65.1 percent a year ago. Youth LFPR declined to 32.6 percent from 34.7 percent as more young people opted to study.
NEDA noted a surge in middle-skilled occupations (+1.3 million) and full-time employment (+6.1 million), indicating improved job quality.
“The government’s massive infrastructure push is expected to create opportunities in several priority sectors, such as energy, logistics, and tourism. The government will also explore opportunities for quality job growth in the mining sector, leveraging available technologies to develop value-adding activities such as mineral processing,” said NEDA Secretary Arsenio Balisacan.
He said that on April 30, President Ferdinand Marcos Jr. signed Executive Order No. 59 to expedite the implementation of the country’s infrastructure flagship projects and improve the ease of doing business. This is expected to further encourage investments and job creation in the country.
The government is proactively improving the investment landscape to sustain labor market gains. For one, it is implementing measures to address bottlenecks and streamline processes, ensuring the efficient realization of investment pledges, he said.
“Investing in human capital—improving education, healthcare, and social services— remains a top priority. The government is currently drafting the Trabaho Para sa Bayan [TPB] Plan, which will serve as the country’s comprehensive employment generation and recovery master plan. It aims to address unemployment, underemployment, informal working arrangements, and other labor market challenges,” said Balisacan.
Balisacan said the TBP Plan focuses on enhancing the employability and competitiveness of Filipino workers through upskilling and reskilling initiatives. Support for micro, small, and medium enterprises and industry stakeholders is also integral to the plan, he said.
“The government aims to assist Filipino workers in the digital age. Initiatives include reducing job search duration, upskilling the workforce, and facilitating the transition towards higher-income jobs. The urgent passage of next-generation reforms, including the Konektadong Pinoy Bill, will play a crucial role in opening up more work opportunities and developing digital skills among the workforce,” Balisacan said.