NUMBER OF JOBLESS FILIPINOS STOOD AT 1.66 MILLION IN NOVEMBER 2024

The country’s unemployment rate fell to 3.2 percent equivalent to 1.66 million Filipinos in November 2024 from 1.9 million in October (Photo courtesy of Lisa Marie David/Reuters)

Unemployment and underemployment in the Philippines dropped as more Filipino workers found jobs in November 2024 amid the seasonal increase in demand for labor during the “ber” months leading to the holidays, the Philippine Statistics Authority (PSA) said. 

According to PSA chief and National Statistician Claire Dennis Mapa jobless individuals, ages 15 and above, stood at 1.66 million. This meant that the unemployment rate fell to 3.2 percent of the labor force in November from 3.9 percent (1.97 million) in October.

Based on PSA’s data, the manufacturing industry added around 784,000 more jobs year-on-year. Some occupations with the highest gainers include plant and machine operators and assemblers, where around 605,000 Filipinos were hired.

Meanwhile, the wholesale and retail industry saw the largest increase in employment since October 2024 at 746,000 more jobs.

The number of underemployed Filipinos, or those who expressed the desire to have additional hours of work in their present job or to have an extra job, or to have a new job with longer work hours also decreased at 5.35 million (10.8%), down from the 11.7% recorded in November 2023. 

Meanwhile, employed persons grew to 49.54 million in November 2024 from 48.16 million in October 2024, slightly lower compared to 49.64 million individuals with jobs or livelihoods in November 2023. The employment rate was estimated at 96.8%, up from 96.1% month-on-month.

In a statement, the National Economic and Development Authority (NEDA) said this indicates “better job quality and fewer workers seeking additional work hours or jobs.” Despite the continued improvement in the country's labor market, NEDA assured that the government will continue to prioritize job quality and income improvement for Filipinos.

"Our labor market remains robust, with consistently 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," NEDA Secretary Arsenio Balisacan said.

Noting that the government needs to facilitate the adoption of alternative work arrangements to account for workers' evolving preferences while considering organizations' emerging demands.

“In addition, the government focuses on accelerating government programs that will increase employability, especially among the youth," Balisacan said.

Source: Manila Standard 

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