The Philippines’ employment rate for November 2024 was estimated at 96.8%, higher than the estimated rate in November 2023 (96.4%) and October 2024 (96.1%), the Philippine Statistics Authority (PSA) said.
According to its Labor Force Survey released on Wednesday, the number of employed individuals for the month of November last year was recorded at 49.54 million. The PSA noted that this number was lower than the estimated number of employed individuals in November 2023 and October 2024.
Meanwhile, the country’s unemployment rate in November 2024 was recorded at 3.2%, still lower than the percentage recorded in November 2023 (3.6%) and October 2024 (3.9%).
The labor force participation rate (LFPR) in November 2024 was also estimated at 64.6%, a lower record than the estimated rate in November 2023 and October 2024.
“The reported LFPR in November 2024 translates to a total of 51.20 million Filipinos aged 15 years old and over who were in the labor force, or those who were either employed or unemployed. The number of individuals aged 15 years old and over who were in the labor force was 51.47 million in November 2023 and 50.12 million in October 2024,” the PSA said.
The PS noted that employed persons worked 41.1 hours per week on average. However, the underemployment rate in November 2024 decreased to 10.8%. This means that 5.35 million of the employed individuals in November 2024, expressed the desire to have additional hours of work in their present job, to have additional jobs, or to find jobs with longer work hours.
Meanwhile, the top five sectors with an annual increase in employment in November 2024 were:
- Manufacturing
- Accommodation and food service activities
- Human health and social work activities
- Other service activities
- Transportation and storage
In contrast, these sub-sectors posted the highest annual decreases in employment, according to PSA:
- Agriculture and forestry
- Wholesale and retail trade; repair of motor vehicles and motorcycles
- Fishing and aquaculture
- Electricity, gas, steam, and air conditioning supply
Subsequently, wage and salary workers accounted for the largest share of employed persons in November 2024, with 63.8%. Self-employed individuals without paid employees came next with 27.8%, and family workers at 6.6%. Meanwhile, employers in their family-operated farm or business posted at 1.8%, accumulating the lowest share.
In contrast, those employed in private establishments had the highest share at 78.7% during the period.
