The number of unemployed Filipinos slightly increased in October 2024, reaching 1.97 million, as reported by the Philippine Statistics Authority (PSA). This uptick, from 1.89 million in September, was attributed to consecutive storms that affected labor force participation during the month. Despite the month-on-month rise, the figure remains lower than the 2.09 million recorded in October 2023.
The unemployment rate climbed to 3.9% from 3.7% in September, as labor force participation dropped to 50.12 million, a decline from September’s 51.77 million. PSA Chief Claire Dennis Mapa described the decrease in workforce engagement as temporary, caused by severe weather disturbances that impacted citizens’ decisions to participate in the job market.
The number of employed individuals fell to 48.16 million in October from 49.87 million in September, though this marks an improvement compared to 47.79 million employed in October 2023. The services sector continued to dominate employment, accounting for 61% of jobs, followed by agriculture at 21.2% and industry at 17.9%.
Top industries showing employment growth include administrative support services, accommodation and food services, and transportation. Meanwhile, fishing, agriculture, and manufacturing recorded significant employment declines.
The underemployment rate rose to 12.6% in October, with 6.08 million workers seeking additional hours or jobs, primarily in retail, agriculture, and forestry. However, year-to-date figures show a slight improvement in underemployment rates compared to 2023.
To address these challenges, the government is focusing on public-private partnerships for climate-resilient infrastructure and extending emergency employment assistance through programs such as TUPAD. National Economic and Development Authority Secretary Arsenio Balisacan emphasized efforts to upskill workers and advance infrastructure projects to create more job opportunities.
