The unemployment rate in the Philippines in December 2024 was recorded at 3.1%, according to preliminary estimates by the Philippine Statistics Authority.

The 3.1% rate was unchanged from the unemployment rate in December 2023 and lower than the 3.2% in November 2024.

In terms of magnitude, the number of unemployed persons in December 2024 was recorded at 1.63 million. This was higher than the number of unemployed persons of 1.60 million in December 2023, but lower than the number of unemployed persons recorded in November 2024 at 1.66 million.

Meanwhile, in December 2024, the employment rate was estimated at 96.9%, the same rate recorded in December 2023. The employment rate in November 2024 was estimated at 96.8%.

In terms of levels, the number of employed persons in December 2024 was recorded at 50.19 million. This was lower than the number of employed persons of 50.52 million in December 2023, but higher than the number of employed persons in November 2024 at 49.54 million.

By broad industry group, the services sector continued as the top sector in terms of the number of employed persons with a share of 60.5% of the total number of employed persons in December 2024. The agriculture and industry sectors accounted for 21.3% and 18.3% of the total number of employed persons, respectively. 

Further data showed that the labour force participation rate (LFPR) in December 2024 was estimated at 65.1%, lower than the LFPR in December 2023 of 66.6%. In November 2024, the LFPR was estimated at 64.6%.

The LFPR in December 2024 translates to a total of 51.81 million Filipinos aged 15 years old and over who were in the labour force, or those who were either employed or unemployed. The number of persons aged 15 years old and over who were in the labour force was 52.13 million in December 2023 and 51.20 million in November 2024.

On average, employed persons worked 40.9 hours per week in December 2024. This was higher than the average hours worked in a week in December 2023 of 40.6 hours, but lower than the 41.1 average hours worked per week in November 2024.

Wage and salary workers continued to account for the largest share of employed persons with 63.1% of the total number of employed persons in December 2024. This was followed by self-employed persons without any paid employee at 28.5% and unpaid family workers at 6.8%. Employers in own family-operated farm or business had the lowest share of 1.6%.

Tags: Philippines, unemployment, employment