The unemployment rate in the Philippines was estimated to be 3.1% in December 2023, according to preliminary data from the Philippine Statistics Authority. This was 1.2% lower than December 2022 and 0.5% lower than November 2023.

In terms of magnitude, the number of unemployed individuals in December 2023 was estimated at 1.60 million. This was lower than the reported number of unemployed persons in December 2022 of 2.22 million and in November 2023 of 1.83 million. 

In December 2023, the employment rate increased to 96.9%, from 95.7% in December 2022 and 96.4% in November 2023.

In terms of levels, the number of employed persons was recorded at 50.52 million in December 2023, higher than the number of employed persons in December 2022 at 49.00 million and November 2023 at 49.64 million.

By broad industry group, the services sector continued to dominate the labour market in December 2023 in terms of number of employed persons, with a share of 57.3% of the 50.52 million employed persons. The agriculture and industry sectors accounted for 24.4% and 18.3% of the employed persons, respectively.

The sector with the highest annual increase in December was the construction sector while the highest annual decrease was wholesale and retail trade; repair of motor vehicles and motorcycles.

Meanwhile, the country’s labour force participation rate (LFPR) in December 2023 was posted at 66.6%, higher than the reported LFPR in December 2022 at 66.4% and November 2023 at 65.9%.

The LFPR in December 2023 translates to 52.13 million Filipinos aged 15 years old and over who were in the labour force, or those who were either employed or unemployed. In December 2022, the number of individuals aged 15 years old and over who were in the labour force was 51.22 million, while 51.47 million were in the labour force in November 2023. 

The average weekly hours worked of an employed individual in December 2023 was estimated at 40.6 hours per week, higher than 40.3 average hours per week posted in December 2022 and 40.2 hours per week in November 2023.