In the Philippines, the unemployment rate in January 2021 stood at 8.7%, up from the 5.3% rate a year ago, according to data from the Philippines Statistics Authority.

The Authority publishes its results every quarter. When compared to October 2020, the rate in January 2021 remained steady. The 8.7% rate is the lowest since April 2020. Pandemic restrictions began across the country in March 2020.

Meanwhile, the employment rate in the Philippines stood at 91.3%, down from 94.7% in January 2020 but steady when compared to October 2020.

At the same time, the underemployment rate was 16.0%, up from 14.8% last year and down from 14.4% in October 2020.

The Labour Force participation rate in the Philippines was 60.5% in January 2021, down from 61.7% the year prior but up from 58.7% in October 2020.

The average weekly hours of work of an employed person decreased in January 2021 at 39.3 hours from an average of 41.3 hours in January 2020. This is also lower than the average weekly hours of work in October 2020 at 40.8 hours

By industry group, the services sector remained dominant with 57.2% share to the total employed persons, followed by the agriculture sector with 24.4% share, and the industry sector with 18.4% which accounted for the smallest share. 

Meanwhile, CNN reports Filipino workers are bound to get a salary increase this year as companies are rebounding from the effects of the Covid-19 pandemic, citing a study by broking solutions firm Willis Towers Watson.  It found that around 82.4% of companies in the Philippines will implement pay hikes and fewer salary freezes this year.

Last year, companies were forced to adjust their pay rise budgets to an average increase of 5.5%, the lowest average salary increase for the Philippines in more than a decade.