The unemployment rate saw an improvement in September but more Filipinos were underemployed during the period.
According to the latest Labor Force Survey of the Philippine Statistics Authority (PSA), the Philippines’ unemployment rate in September eased to 3.7 percent from 4.5 percent in September 2023 and 4 percent in August.
In terms of magnitude, the number of unemployed individuals in September 2024 reached 1.89 million.
This was lower than the estimated number of unemployed persons of 2.26 million in September 2023 and 2.07 million in August 2024.
Meanwhile, the underemployment rate in September 2024 increased to 11.9 percent.
This is higher than the 10.7 percent recorded in September 2023 and 11.2 percent in August 2024.
In terms of magnitude, 5.94 million of the 49.87 million employed individuals in September 2024 expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work.
In a statement, the National Economic and Development Authority (NEDA) said enhancing job quality and improving the incomes of Filipino workers are among the government’s top priorities.
A total of 49.9 million Filipinos were employed in September 2024, up by 2.2 million in the same month the previous year.
“We are sustaining our efforts to enhance all dimensions of our labor market. The government is urgently addressing the constraints to high-quality job creation and collaborating with the private sector to capacitate our workers with the right skills and competencies simultaneously,” NEDA Secretary Arsenio Balisacan said.
The total labor force participation rate increased to 65.7 percent as of September from 64 percent in the same period last year.
An additional 1.8 million Filipinos, mainly among the prime working age and women, entered the labor force.
Balisacan said the government will continue implementing supply- and demand-side interventions to achieve the quality employment targets set in the Philippine Development Plan 2023-2028.
He said fast-tracking the implementation of key infrastructure projects, particularly in energy, logistics, and physical and digital connectivity, remains critical to unlocking the country’s growth potential.
“The passage of the Konektadong Pinoy Bill and expanding efforts to equip the workforce with emerging and in-demand skills are deemed necessary. We will strengthen collaboration with the private sector and academe to upskill the workforce, particularly in using digital technologies and other innovations,” said Balisacan.
He also said that the passage of the Apprenticeship Bill, Lifelong Learning Bill and Enterprise Productivity Act will further improve the employability of the Filipino workforce.
