Philippines Unemployment Rate

The unemployment rate in the Philippines rose to 4.7% in July 2024, slightly down from 4.8% in the corresponding month of the previous year. The number of unemployed persons increased to 2.38 million from 2.29 million in July 2023, while employment rose to 47.70 million from 44.56 million last year. Across broad industry groups, the services sector continued to be the largest employer, accounting for 60.8 percent of the total employed. In comparison, the agriculture sector made up 21.2 percent, while the industry sector comprised 18.0 percent of the total employed workforce. By sub-sectors, employment grew the most to wholesale and retail trade (+1.07 million), agriculture and forestry (+936 thousand), and accommodation and food service activities (+512 thousand), while it notably fell to manufacturing (-154 thousand), and professional, scientific and technical activities (-100 thousand). The labor force participation rate went up to 63.5% from 60.0% a year earlier.