The Philippines’ unemployment rate eased in May, as the economy generated more jobs, reducing the number of Filipinos without work compared to both April this year and May of the previous year.
According to data from the Philippine Statistics Authority (PSA), the unemployment rate in May stood at 3.9 percent, down from 4.1 percent in both April and May of 2024. This translates to 2.03 million jobseekers unable to find work, a slight decrease from 2.06 million in April and 2.11 million in May of the previous year.
The labor force participation rate also improved in May, reaching 65.8 percent, or about 52.3 million Filipinos, compared to 63.7 percent in April and 64.8 percent in May 2024.
Meanwhile, the employment rate increased to 96.1 percent in May, up from 95.6 percent in both April and May of 2024. The number of employed individuals rose to 50.3 million, an improvement from 48.7 million in April and 48.9 million a year ago.
The Services sector continued to dominate employment, comprising 61.8 percent of the workforce, followed by Agriculture at 21.1 percent and Industry at 17.1 percent. Notably, the top three subsectors with the highest employment were Wholesale and Retail Trade (19.8 percent), Agriculture and Forestry (18.8 percent), and Construction (9.5 percent).
On a concerning note, underemployment, which refers to individuals working but seeking additional income, stood at 13.1 percent of the employed population. While it decreased from April’s 14.6 percent, it remains higher than the 9.9 percent recorded in May 2024, affecting around 6.6 million workers.
