The Philippines’ unemployment rate eased to 3.1 percent in December 2024 from 3.2 percent in November but was unchanged from the December 2023 level, the Philippine Statistics Authority said Thursday.
The number of unemployed individuals in December 2024 was 1.63 million, higher than the 1.60 million in December 2023 but lower than the 1.66 million in November 2024, the PSA said, based on its Labor Force Survey.
The employment rate was estimated at 96.9 percent, representing 50 million employed persons, lower than the 50.52 million in December 2023 but higher than November’s 49.54 million.
The underemployment rate, which measures the number of workers seeking additional work or longer hours, decreased to 10.9 percent in December 2024 from 11.9 percent in December 2023 and was slightly up from 10.8 percent in November 2024. About 5.48 million of the 50.19 million employed individuals in December 2024 expressed a desire for more work, the PSA said.
“Following the strategies outlined in the Philippine Development Report 2024, particularly those that strengthen the labor market, is crucial to sustaining our economic momentum and providing higher earning opportunities for Filipinos,” said National Economic and Development Authority Secretary Arsenio Balisacan.
“The government remains committed to advancing both supply- and demand-side measures that will foster a more dynamic labor environment and meet the targets set in the Philippine Development Plan 2023-2028,” he said.
The labor force participation rate was 65.1 percent in December 2024, down from 66.6 percent in December 2023. The youth labor force participation rate also fell to 31.9 percent from 34.5 percent, mainly due to schooling, which affected 479,000 people. The female labor force participation rate dropped to 54.7 percent from 56.3 percent, as more women cited household responsibilities as a barrier to employment, affecting 671,000 people.
The government is promoting inclusive work arrangements and intensifying efforts to expand employability, including implementing the Enterprise-Based Education and Training Framework, to equip workers with industry-relevant skills.
“The government will continue to advance our economic transformation agenda and ensure the stability of our economy by increasing our growth drivers,” Balisacan said.
“Through innovation, the use of technology, and strategic investments, we aim to develop new sectors and industries, making our country a competitive alternative in global supply chains,” he said.
The government is also reinforcing reintegration efforts for returning Overseas Filipino Workers, particularly in light of shifting immigration policies. Programs such as the Agarang Kalinga at Saklolo para sa mga OFW na Nangangailangan Fund and the Emergency Repatriation Fund provide financial and welfare assistance. The National Reintegration Center for OFWs is implementing programs that address the economic, social, and psychological aspects of reintegration. The government is considering expanding AKSYON Centers in key regions to enhance service accessibility, NEDA said.
“By strengthening social protection, fostering a dynamic and inclusive labor market, and ensuring that economic gains benefit all Filipinos, we can create a workforce that is resilient and future-ready,” Balisacan said.
“Our goal is to sustain job creation, improve the quality of employment, and provide every Filipino with opportunities for long-term economic security,” he said.