Philippines Unemployment Rate

The unemployment rate in the Philippines stood at 3.1% in December 2024, unchanged from the same month last year. This marked the lowest jobless rate since June, with the number of unemployed individuals slightly increasing to 1.63 million from 1.60 million in December 2023, while employment fell to 50.19 million from 50.52 million. Among broad industry groups, the services sector continued as the top sector in terms of the number of employed persons with a share of 60.5% percent of the total number of employed. Meanwhile, the labor force participation rate declined to 65.1%, compared to 66.6% a year earlier. On average, employed persons worked 40.9 hours per week, lower than the 41.1 hours recorded in December 2023.