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Philippines
Wednesday, April 16, 2025
28 C
Philippines
Wednesday, April 16, 2025

Philippines unemployment rate rose to 3.8% in February

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The Philippines’ unemployment rate rose to 3.8 percent in February 2025 from 3.5 percent a year earlier, the Philippine Statistics Authority (PSA) said Tuesday.

The increase was mainly due to more young individuals seeking employment during that period, the National Economic and Development Authority (NEDA) said.

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The figure, however, was lower than the 4.3 percent recorded in January, according to the latest Labor Force Survey.

The PSA said the total number of unemployed individuals in February 2025 was 1.94 million, higher than the 1.80 million in February 2024 and lower than the 2.16 million in January 2025.

NEDA said the Marcos administration is committed to improving the quality of job opportunities available to Filipino workers.

The underemployment rate, which measures workers seeking additional jobs or work hours, fell to 10.1 percent in February 2025 from 12.4 percent in February 2024. It was also lower than the 13.3 percent in January 2025.

NEDA said the quality of employment continued to improve year-on-year, with more workers engaged in full-time employment (+1.7 million), middle- and high-skilled occupations (+1.1 million), and remunerative wage and salaried work (+151,000).

NEDA said the country’s unemployment rate remains comparable to Asian economies, including Malaysia (3.1 percent) and Vietnam (2.2 percent), and lower than China (5.4 percent) and India (6.4 percent).

NEDA Secretary Arsenio Balisacan said the government aims to swiftly pursue initiatives and fast-track the implementation of projects generating high-quality jobs.

“We will build on our momentum and intensify our efforts to secure strategic job-generating investments, promote a dynamic and innovative business environment, and diversify growth drivers. The continued rollout and implementation of high-impact infrastructure flagship projects, particularly in energy, transport, and digital connectivity, will boost domestic employment and business activity,” he said.

To support Filipino workers amid a constantly changing labor market landscape, developing the Lifelong Learning Development Framework will be crucial for fostering continuous learning, enabling individuals to develop their skills, pursue higher studies, or acquire micro-credentials while working, he said.

Partnerships with the private sector will be expanded to ensure that training programs are tailored to industry requirements, enhancing workers’ skills and productivity, as supported under the Enterprise-Based Education and Training Framework, NEDA said.

The Technical Education and Skills Development Authority and the Department of Labor and Employment finalized the implementing rules and regulations of the EBET Framework Act in February 2025.

The government is also set to launch the Trabaho Para Sa Bayan Plan 2025-2034. The TPB plan will highlight the government’s key employment strategies, including programs to improve the competitiveness of the Filipino workforce; encourage innovation and promote technology adoption among enterprises, especially MSMEs; and enhance labor market governance, including social protection programs.

Data showed that the number of employed persons in February 2025 was recorded at 49.15 million, higher than the 48.95 million in February 2024 and the 48.49 million in January 2025.

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