The unemployment rate in the Philippines posted a marginal increase in March 2025 on lower employment within the agriculture and construction sectors, the Philippine Statistics Authority (PSA) said Wednesday.
Data from the PSA showed that the jobless rate in March edged up to 3.9 percent from 3.8 percent in February, but remained at the same level a year ago.
The PSA said that in terms of magnitude, the total number of unemployed individuals in March 2025 was registered at 1.93 million.
“This was lower than the number of unemployed persons in March 2024 at 2.0 million. In February 2025, the number of unemployed individuals was registered at 1.94 million,” the PSA said.
It said the number of employed persons in March 2025 was recorded at 48.02 million, lower than in March 2024 and February 2025, both at 49.15 million.
Labor force participation rate (LFPR) in March 2025 went down to 62.9 percent from 65.3 percent a year ago and 64.5 percent in February 2025.
Meanwhile, the underemployment rate in March 2025 rose to 13.4 percent from 11.0 percent in March 2024 and 10.1 percent in February 2025.
About 6.44 million of the 48.02 million employed individuals expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work in March 2025.
Meanwhile, Department of Economy, Planning and Development (DEPDev) Secretary Arsenio Balisacan said the Philippines reaffirmed its position as a dynamic investment destination of choice in the global economy.
Balisacan said the Philippines has sustained its strong economic momentum and is staying the course by following a clear roadmap for inclusive growth. The country’s commendable performance in the past two decades has been anchored on sound macroeconomic management, strategic government interventions and a solid commitment to reform.
Balisacan highlighted the economy’s desirable market features, citing its $392 billion economic size, its remarkable progress as a rising middle-income country and its sizeable population of 114 million with a median age of 27.
“At our current growth trajectory—and barring significant external shocks—we anticipate reaching a $2 trillion economy by 2050,” he said.
He said the Philippine economy is poised for transformation, driven by initiatives that foster new growth drivers while strengthening existing sectors.