The unemployment rate in the Philippines decreased to 4.7 percent in March 2023 from 5.8 percent in the same month a year earlier, as the economy recovered further from pandemic disruptions. The number of unemployed persons was 2.42 million, down 0.46 million from 2.88 million in March 2022. Meanwhile, the number of employed increased by 1.61 million to 48.58 million compared to the same period last year. The services sector accounted for the largest share of employment (59.0 percent), followed by the agriculture sector (23.5 percent) and the industry sector (17.5 percent). Meanwhile, labor force participation climbed to 66.0 percent from 65.4 percent in March 2022. source: Philippine Statistics Authority

Unemployment Rate in Philippines averaged 8.33 percent from 1986 until 2023, reaching an all time high of 17.60 percent in June of 2020 and a record low of 4.20 percent in November of 2022. This page provides - Philippines Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Unemployment Rate in Philippines is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Unemployment Rate is projected to trend around 6.00 percent in 2024 and 5.00 percent in 2025, according to our econometric models.

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Philippines Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-11 01:15 AM Feb 4.8% 4.8% 4.7%
2023-05-08 01:00 AM Mar 4.7% 4.8% 4.7%
2023-06-09 01:00 AM Apr 4.7% 4.7%


Related Last Previous Unit Reference
Unemployment Rate 4.70 4.80 percent Mar 2023
Employed Persons 47351.57 47106.36 Thousand Mar 2023
Unemployed Persons 2372.87 2241.47 Thousand Mar 2023
Labor Force Participation Rate 66.00 66.60 percent Mar 2023
Wages in Manufacturing 121.81 121.65 points Dec 2020
Employment Rate 95.30 95.20 percent Mar 2023

Philippines Unemployment Rate
In the Philippines, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
4.70 4.80 17.60 4.20 1986 - 2023 percent Monthly
NSA

News Stream
Philippines Jobless Rate Drops to 4.7% in March
The unemployment rate in the Philippines decreased to 4.7 percent in March 2023 from 5.8 percent in the same month a year earlier, as the economy recovered further from pandemic disruptions. The number of unemployed persons was 2.42 million, down 0.46 million from 2.88 million in March 2022. Meanwhile, the number of employed increased by 1.61 million to 48.58 million compared to the same period last year. The services sector accounted for the largest share of employment (59.0 percent), followed by the agriculture sector (23.5 percent) and the industry sector (17.5 percent). Meanwhile, labor force participation climbed to 66.0 percent from 65.4 percent in March 2022.
2023-05-08
Philippines Jobless Rate Falls to 4.8%
The unemployment rate in the Philippines declined to 4.8 percent in February 2023 from 6.4 percent in the same month a year earlier, as the economy recovered further from pandemic disruptions The number of unemployed persons was 2.47 million, down 0,66 million from 3.13 million in February 2022. Meanwhile, the number of employment rose by 3.32 million to 48.80 million compared to the same period last year. The services sector accounted for the largest share of employment (59.6 percent), followed by the agriculture sector (24.1 percent) and the industry sector (16.3 percent). Meanwhile, labor force participation increased to 66.6 percent from 63.8 percent in February of 2022.
2023-04-11
Philippines Jobless Rate at 4-Month High
The unemployment rate in the Philippines increased to 4.8 percent in January 2023, the highest reading in four months and up from 4.3 percent in December 2022. The number of unemployed persons stood at 2.37 million, while employment rose by 4.09 million to 47.35 million compared to the same period last year. The services sector accounted for the largest share of employment (60.7 percent), followed by the agriculture sector (22.2 percent) and the industry sector (17.1 percent). Meanwhile, labor force participation fell to 64.5 percent from 66.4 percent in December.
2023-03-09