MANILA, Philippines – Unemployment and underemployment in the Philippines dropped in November 2024 as businesses geared up for the holiday season, the Philippine Statistics Authority (PSA) said on Wednesday, January 8.
The unemployment rate fell to 3.2% last November from 3.6% in the same month in 2023, which translated to 1.66 million jobless Filipinos.
The number of underemployed Filipinos also dropped to 5.35 million in November, with the underemployment rate falling to 10.8%. It was at 12.6% in October.
National Statistician Dennis Mapa said the manufacturing industry added around 784,000 more jobs year-on-year. Some occupations with the highest gainers include plant and machine operators and assemblers, where around 605,000 Filipinos were hired.
Meanwhile, the wholesale and retail industry saw the largest increase in employment since October 2024 at 746,000 more jobs.
Mapa said the increase in manufacturing and retail jobs in November was expected due to the holiday season.
“Ang ating usually last quarter, ‘yung tatlong buwan na ‘yan, may mga pagtaas tayo doon sa accommodations, services, restaurants, and ang mga key inputs nito like food products,” he said.
(Usually in the last quarter, those last three months, we see an increase in accommodations, services, restaurants, and their key inputs like food products.)
Mapa also cited the holiday season as a factor behind the drop in underemployment as more Filipinos were hired in full-time jobs to meet the growing demand.
“Affected din tayo sa mga ber months kasi mataas dito ang transport and storage, may pagbawas dito sa mga bilang ng underemployed ng mga 144,000, at ang malaking nag-contribute ay ‘yung passenger land transport,” he explained.
(The underemployment was also affected by the ber months because transport and storage saw a huge drop in the number of underemployed by around 144,000, and a big contributor to this was passenger land transport.)
The PSA noted that the agriculture and fisheries sector lost the most jobs since November 2023, with 1.99 million workers losing their jobs.
Jobs involving the growing of corn and bananas were the hardest hit, with around 712,000 jobs lost. Around 286,000 jobs in marine fishing were also lost during this period.
Mapa cited the five consecutive tropical cyclones that passed through the Philippines from November 1 to 18.
Despite the drop in underemployment and unemployment, the National Economic and Development Authority (NEDA) vowed to expand cash-for-work and training programs for vulnerable communities to mitigate climate-related risks to the job market.
NEDA Secretary Arsenio Balisacan also underscored government efforts to develop early-warning systems and climate-resilient infrastructure to boost agricultural productivity and build the industry’s resilience.
“We remain committed to achieving our employment targets under the Philippine Development Plan 2023-2028. The 2024 Philippine Development Report, which NEDA will release this month, will guide our efforts with evidence-based strategies to create quality jobs and sustain economic growth,” he said in a statement. – Rappler.com
