Photo credit: DOLE

In April 2024, the unemployment rate in the Philippines decreased to 4.0%, showcasing a positive trend compared to the previous year and the beginning of 2024. With an estimated 2.04 million individuals unemployed, the nation experienced a decline in joblessness. Additionally, the employment rate rose to 96.0%, indicating a healthier job market with 48.36 million people gainfully employed. However, the labor force participation rate slightly declined to 64.1%.

Despite these improvements, underemployment saw a rise, reaching 14.6%. Notably, 7.04 million employed individuals expressed a desire for more work hours or additional employment opportunities.

The services sector remained dominant in employment, comprising 61.4% of the workforce, followed by agriculture and industry. Sub-sectors like accommodation and food service activities, construction, transportation, and manufacturing showed significant increases in employment.

However, some sectors faced declines, notably agriculture and forestry, wholesale and retail trade, and real estate activities.

Wage and salary workers constituted the majority of the workforce, with 63.6%, followed by self-employed individuals and unpaid family workers.

Region V (Bicol Region) had the highest unemployment rate at 5.4%, while Region IX (Zamboanga Peninsula) reported the lowest at 2.3%.

Youth employment metrics showed a decrease in labor force participation and employment rates, coupled with an increase in the proportion of youth not in education, employment, or training (NEET). These trends highlight ongoing challenges in youth employment and engagement in the workforce.