The unemployment rate in the Philippines in October 2021 stood at 7.4%, down from 8.9% the previous month and from 8.7% in October 2020, according to data from the Philippine Statistics Authority.

The unemployment rate in the Philippines in October 2021 was the third lowest reported in 2021. The lowest reported was in July 2021 estimated at 6.9%, followed by 7.1% in March 2021.

The total number of unemployed persons 15 years old and over in October 2021 was registered at 3.50 million. It was lower by 309,000 from the total unemployed persons reported in October 2020 (3.81million). 

Employment in the country improved with a reported 43.83 million employed persons in October 2021 from 39.84 million employed persons in the same period last year.

The employment rate posted a month-on-month increase from 91.1% in September 2021 to 92.6% this October 2021.

The labour force participation rate in October 2021 was estimated at 62.6%, up from 58.7% in October 2020 and down from 63.3% the previous month.

By broad industry group, the services sector continued to dominate the employment market having the largest share of employed persons of about 57.6%. The agriculture and the industry sectors accounted for 24.6% and 17.8% of the employed persons, respectively.

“As we relaxed restrictions, more people were able to work while Covid-19 positivity, case fatality, and bed occupancy rates continued to improve," said the team comprised of Socioeconomic Planning Secretary Karl Kendrick Chua, Finance Secretary Carlos Dominguez, and Budget officer-in-charge Tina Rose Marie Canda. "Sustaining these gains will allow us to recover to the pre-pandemic level in early 2022, a year ahead of the government's initial estimates.”