The country’s unemployment and underemployment rate eased in November as the holiday season created more quality jobs during the month, the Philippine Statistics Authority said on Wednesday, January 8.
The latest data from the Labor Force Survey showed that the number of unemployed Filipinos fell from 1.9 million in October to 1.6 million in November.
This resulted in an unemployment rate of 3.2 percent, a decrease from the earlier figure of 3.9 percent.
The number of unemployed individuals in November 2024 was lower than the 1.83 million recorded in November 2023.
Industries with the highest employment growth in November included manufacturing (+784,000), accommodation and food service activities (+528,000), human health and social work activities (+303,000), other service activities (+239,000), and transportation and storage (+190,000).
In a press briefing, PSA chief and National Statistician Claire Dennis Mapa credited the positive labor statistics to the seasonal demand for workers during the holiday season.
“Usually [sa] last quarter, tatlong buwan na yan, may pagtaas tayo sa accommodation services, restaurants, and of course ang key inputs nito like food products,” Mapa said.
“Of course as expected kasi November is kasama sa holiday season, tumaas din yung accommodation and food service activities,” Mapa added.
The PSA Chief also noted increases in employment across various age groups last November.
The largest growth came from workers aged 35 to 44, with an additional 217,000 employed in this age bracket.
This was followed by the 25 to 34 age group, which saw an increase of 138,000 individuals joining the workforce.
Underemployment
On the other hand, 5.3 million employed Filipinos sought additional work to supplement their income, down from 6.08 million in October. This translated to an underemployment rate of 10.8 percent, a decline from the 12.6 percent reported in October.
Despite the favorable unemployment data, the PSA reported a slight decline in the labor force participation rate (LFPR), which dropped to 64.6 percent from 65.9 percent in November 2023.
This indicates that 51.20 million Filipinos aged 15 and above were part of the labor force, either employed or seeking employment, during November.
Employment
The number of employed individuals also slightly increased to 49.54 million in November 2024, up from 48.16 million in October 2024. However, this was marginally lower than the 49.64 million recorded in November 2023.
In November 2024, wage and salary workers comprised the largest portion of the workforce, making up 63.8 percent of all employed individuals.
This was followed by self-employed individuals without paid employees, who accounted for 27.8 percent, and unpaid family workers at 6.6 percent.
Employers operating their own family-run farms or businesses had the smallest share at 1.8 percent.
Those employed in private establishments had the largest representation among wage and salary workers, comprising 78.7 percent of wage and salary workers, or 50.2 percent of the total workforce.
The next largest group was those working in government or government-controlled corporations, which made up 13.7 percent of wage and salary workers, or 8.7 percent of the entire employed population.
In a separate statement, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said the country’s labor market remains strong due to high employment rates and reduced underemployment.
“The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy,” Balisacan said.
“Moreover, we will encourage business upgrading and skills training programs to ensure that these jobs offer competitive wages as our workers raise their productivity by developing their human capital,” Balisacan added.
Balisacan highlighted the need for a comprehensive strategy to ensure an efficient labor market, focusing on fostering investments in high-quality, job-creating sectors, boosting skills development and workforce mobility, and enhancing employment support services. (TCSP)
