Philippine Employment Rises as Joblessness Declines in June
MANILA — The Philippine Statistics Authority (PSA) reported a significant decrease in unemployment in June, with the number of jobless Filipinos falling to 1.62 million from 2.33 million a year earlier. This marks a considerable improvement in the country’s labor market conditions.
According to Philippines News Agency, the unemployment rate dropped to 3.1 percent from 4.5 percent in June 2023 and 4.1 percent in May 2024. Mapa noted that this is one of the lowest unemployment rates recorded since April 2005. The Labor Force Participation Rate (LFPR) stood at 66 percent, with approximately 51.90 million Filipinos aged 15 and over active in the labor force. The employment rate also saw an increase to 96.9 percent from 95.5 percent in the previous year, with employed individuals numbering around 50.28 million.
Sectoral Employment Changes and Government Response
In June, significant employment gains were noted in construction, wholesale and retail trade, accommodation and food service activities, manufacturing, and transportation and storage. However, employment in agriculture and forestry as well as fishing and aquaculture saw reductions, primarily attributed to the adverse effects of El Niño.
The National Economic and Development Authority (NEDA) acknowledged these developments, highlighting the government’s efforts in creating high-quality job opportunities through the swift implementation of infrastructure projects and improvements in manufacturing conditions. NEDA Secretary Arsenio Balisacan stated that investments in sectors like renewable energy, water supply, and mining are also supporting job growth. Additionally, there has been a noticeable shift from part-time and vulnerable employment to full-time, wage, and salaried, and middle-skilled positions, signaling a healthier job market.
Continued Efforts and Future Plans
NEDA plans to continue enhancing the country’s business environment to attract more investments and create higher-quality jobs. This includes addressing bottlenecks and expediting processes to capitalize on investment pledges and benefits from liberalization reforms. Among the strategic initiatives are the development of Industry 4.0 facilities and the full implementation of the National Artificial Intelligence Strategy Roadmap 2.0, aimed at fostering sustainable digital transformation and innovation.
Furthermore, NEDA is advocating for legislative support for the Apprenticeship Bill, which aims to reform the apprenticeship system and better equip the youth with job-ready skills through integrated workplace training and classroom learning.
Enhancing Occupational Safety and Job Security
With the unemployment rate at a record low, the National Anti-Poverty Commission’s Formal Labor and Migrant Workers Sectoral Council emphasized the need to enhance occupational safety and health measures and strengthen job security. This is especially crucial in sectors that are currently seeing substantial job growth, where stringent safeguards are necessary to align with global labor standards.
As the Philippine labor market continues to expand and evolve, both the government and employers are urged to improve safety qualifications and implement robust job security policies to ensure sustainable employment growth and protection for Filipino workers.