PHILIPPINE UNEMPLOYMENT dipped to 3.1% in December, coinciding with a rise in recruitment within the transport and storage industry, which brought the annual average to a historic low of 3.8%, as reported by the statistics agency.<\/p>\n
Initial findings from the Philippine Statistics Authority\u2019s (PSA) Labor Force Survey indicated that the unemployment rate in December remained stable compared to the same month in 2023 but showed a minor decline from 3.2% in November.<\/p>\n
The total number of jobless Filipinos rose to 1.63 million in December, increasing from 1.6 million the previous year, but was slightly lower than 1.66 million in November.<\/p>\n
December also recorded the lowest unemployment rate since April 2005, when the statistics agency updated its definition of unemployed to Filipinos aged 15 and older who are without jobs, available for work, and actively seeking one.<\/p>\n
For 2024, National Statistician Claire Dennis S. Mapa noted that the average jobless rate was 3.8%, corresponding to 1.94 million unemployed Filipinos. This figure was an improvement over the 4.4% unemployment rate, which represented 2.19 million unemployed individuals in 2023.<\/p>\n
The full-year unemployment rate for 2024 was also the lowest recorded since 2005.<\/p>\n
<\/a><\/p>\n The slight decline in unemployment in December 2024 was credited to an uptick in hiring for transport and storage personnel during the holiday period, according to Mr. Mapa, who highlighted that the sector added 184,000 workers month on month.<\/p>\n On a year-on-year basis, the sector experienced an increase of 555,000 workers. <\/span><\/p>\n \u201cMost of this growth is attributed to passenger transport by road, influenced by our holiday season,\u201d Mr. Mapa commented in a mix of English and Filipino during a news briefing in Quezon City.<\/p>\n \u201cWe are witnessing progress in airport shuttle services, taxi operations, and overall passenger land transport. This reflects a positive trend in the sector. Furthermore, the utilization of buses for public transport has also increased,\u201d he added.<\/p>\n Conversely, job quality deteriorated year on year as the underemployment rate edged down to 10.9% (5.48 million), from 11.9% (6.01 million) in December 2023. Month on month, the underemployment rate rose from 10.8% (5.35 million) in November.<\/p>\n This was also the lowest underemployment rate since April 2005 when the PSA redefined underemployment as individuals who are employed but seeking additional jobs or hours.<\/p>\n For 2024, the average underemployment rate decreased to 11.9% from 12.3% in 2023. This equated to 5.83 million underemployed Filipinos last year, down from 5.94 million in 2023, according to Mr. Mapa.<\/p>\n Labor Secretary Bienvenido E. Laguesma expressed that the December 2024 Labor Force Survey results indicate that the government\u2019s initiatives, aided by the private sector, are yielding results and making progress.<\/p>\n \u201cWe are committed to collaborating with the private sector on job creation to ensure a more stable income source and improved living conditions for our workforce,\u201d he conveyed to BusinessWorld<\/i> via a Viber message. \u201cWith increased job opportunities, access to these chances will be broadened for workers, including those in the informal sector.\u201d<\/p>\n National Economic and Development Authority\u00a0 <\/span>Secretary Arsenio M. Balisacan stated that efforts to bolster the labor market are \u201cessential for maintaining our economic momentum and enhancing earning opportunities for Filipinos.\u201d<\/span><\/p>\n \u201cThe government remains dedicated to implementing both supply- and demand-side strategies that will cultivate a more dynamic labor landscape and fulfill the goals outlined in the Philippine Development Plan 2023-2028,\u201d he remarked.<\/p>\n Finance Secretary Ralph G. Recto indicated that the government will persist in advocating for initiatives that <\/span>generate quality employment for Filipinos. <\/span><\/p>\n \u201cWe are intensely focusing on enhancing education, infrastructure, and human development to ensure that we establish a Filipino workforce equipped with the necessary tools and opportunities to compete on a global scale,\u201d Mr. Recto stated, underlining the importance of upskilling the workforce.<\/p>\n EMPLOYMENT RATE The employment rate remained consistent with December 2023. However, there were slightly more employed Filipinos at 50.52 million in December 2023.<\/p>\n For 2024, the average employment rate rose to 96.2%, up from the 95.6% recorded in 2023. This represents 48.85 million employed Filipinos in 2024, higher than the 2023 average of 48.18 million. <\/span><\/p>\n Conversely, the labor force participation rate (LFPR) decreased to 65.1% in December from 66.6% in December 2023. This accounted for a labor force of 51.81 million, which is lower than the 52.13 million in December 2023.<\/p>\n University of the Philippines School of Labor and Industrial Relations Assistant Professor Benjamin B. Velasco commented that the marginal decline in LFPR points to ongoing difficulties in job creation. <\/span><\/p>\n \u201cPopulation will continue to rise, which is expected. Growth in population drives consumption and production, so it isn’t negative in itself; however, significant population increases do pose challenges for policy making, including labor market governance,\u201d he stated in a Facebook Messenger exchange.<\/p>\n \u201cThe challenge of job creation is also highlighted by the substantial drop in youth LFPR.\u201d<\/p>\n The youth LFPR fell to 31.9% in December from 34.5% in December 2023. Likewise, the youth employment rate declined to 90.9% in December from 91.8% in the previous year.<\/p>\n SECTORAL GAINS AND LOSSES Mr. Mapa attributed these losses to the succession of typhoons that impacted the country in the fourth quarter, highlighting that approximately 557,000 of those affected were paddy rice farmers.<\/p>\n Individuals engaged in planting, transplanting, and related activities lost 424,000 jobs year on year in December. Additionally, hog farming witnessed a decline of 236,000 jobs due to the ongoing impact of African Swine Fever (ASF) on production.<\/p>\n On a month-to-month basis, the agriculture and forestry sector experienced the most significant increase, with an additional 735,000 workers being hired.<\/p>\n Simultaneously, the sector encompassing wholesale and retail trade, as well as repair of motor vehicles and motorcycles, reported the greatest job losses, totaling 391,000 month on month in December.<\/span><\/p>\n Mr. Mapa noted that 294,000 of those job losses originated from the retail sector, impacting stalls, markets, food and beverages, and tobacco products.<\/p>\n About 219,000 workers engaged in accommodation and food service industries also faced job losses in December 2024, despite the increase in holiday-related activities.<\/span><\/p>\n
\n<\/b>Concurrently, the PSA also disclosed that the employment rate marginally improved to 96.9%, representing 50.19 million employed Filipinos in December, up from 96.8% in November when there were 49.54 million employed individuals.<\/p>\n
\n<\/b>PSA figures also indicated that agriculture and forestry shed 1.56 million jobs year on year in December.<\/span><\/p>\n![\"Untitled\"](\"https:\/\/live.staticflickr.com\/65535\/54309363807_d23fbd8c07_o.jpg\")
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