Philippinen Arbeitslosenquote

The unemployment rate in the Philippines fell to 3.9% in October 2024, down from 4.2% in the same month last year. The number of unemployed individuals decreased to 1.97 million from 2.09 million in October 2023, while employment rose to 48.16 million, up from 47.79 million. Among broad industry groups, the services sector remained the largest employer, accounting for 61.0% of the total workforce, followed by agriculture at 21.2% and industry at 17.9%. Meanwhile, the labor force participation rate declined to 63.3% in September 2024, compared to 63.5% a year earlier. On average, employed persons worked 41.0 hours per week, slightly lower than the 41.2 hours recorded in October 2023.