Philippines Labor Force Participation Rate

The unemployment rate in the Philippines inched up to 4.3% in December 2022, from 4.2% a month earlier which was the lowest figure since records began at 1986. The number of unemployed stood at 2.22 million, down from 3.27 million in December 2021. On the other hand, the number of employed came in at 49 million, higher from 46.27 million in the same period last year. Among employed persons, workers in the services sector continued to have the largest share of employed persons with 58.9%, followed by agriculture sector (24%), and industry sector (17.1%). The labor force participation rate was down to 66.4% from 67.5% in November.