Employment rate from 2023-2024
The country’s employment rate in January 2024 was estimated at 95.5 percent. This was higher than the employment rate in January 2023 at 95.2 percent but lower than the recorded employment rate in October 2023 at 95.8 percent.
In terms of levels, the number of employed persons in January 2024 was posted at 45.94 million, lower than the number of employed persons in the same month last year at 47.35 million. In October 2023, the number of employed persons was estimated at 47.80 million.
Unemployment rate in January 2024 dropped to 4.5 percent, from 4.8 percent in the same month of the previous year. In October 2023, the unemployment rate was recorded at 4.2 percent. (Table A-1)
In terms of magnitude, the number of unemployed individuals in January 2024 was estimated at 2.15 million. This was lower than the reported number unemployed persons in January 2023 of 2.38 million, but higher the reported unemployed persons in October 2023 of 2.09 million.
As published by psa.gov.ph of March 2024