UNEMPLOYMENT fell to 3.2 percent in November — the second-lowest monthly rate in 2024 — as the holiday season led to more jobs for Filipinos, the Philippine Statistics Authority said on Wednesday.
The jobless rate improved from 3.9 percent in October and 3.6 percent a year earlier. It was also the lowest since June’s 3.1 percent and brought year-to-date unemployment to 3.9 percent.
The November result was equivalent to 1.66 million unemployed Filipinos, lower than October’s 1.97 million and the year-earlier 1.83 million.
National Statistician Claire Dennis Mapa attributed the gain to more job opportunities during the holiday season. In particular, he told reporters that the number of people working in accommodation and food services rose by over 500,000 during the month.
Underemployment — which counts those looking for more work or an extra job — also improved to 10.8 percent from 12.6 percent a month earlier and November 2023’s 11.7 percent.
The number of the underemployed was said to be 5.35 million, improving from 6.08 million in October and 5.79 million a year ago.
With employment having improved to 96.8 percent from 96.1 percent in the previous month and 96.4 percent in November 2023, the number of Filipinos with jobs reached 49.54 million, higher than October’s 48.16 million, but slightly lower than the year-earlier 49.64 million.
The labor force participation rate similarly improved to 64.6 percent from the month-earlier 63.3 percent, but fell from November 2023’s 65.9 percent.
The services sector remained the main source of jobs, accounting for 63.1 percent of the employed. Agriculture and industry followed with 20 percent and 17.9 percent, respectively.
Wage and salary workers comprised 68.8 percent of those with jobs, followed by the self-employed at 27.8 percent.
Socioeconomic Planning Secretary Arsenio Balisacan, in a statement, said the government was prioritizing job quality and income improvements in order to sustain the labor market gains.
“Our labor market remains robust, with consistently high employment rates and reduced underemployment,” he also said.
“The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy.”
Balisacan said the government was keen to encourage business upgrading and skills training programs to ensure that jobs offer competitive wages as “our workers raise their productivity by developing their human capital.”
“The government needs to facilitate the adoption of alternative work arrangements to account for workers’ evolving preferences while considering organizations’ emerging demands,” he added.
It will also focus on “accelerating government programs that will increase employability, especially among the youth.”
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