The unemployment rate in the Philippines rose to 3.9% in October, translating to 1.97 million jobless Filipinos, up from 1.89 million in September, according to the Philippine Statistics Authority (PSA).
PSA Undersecretary and National Statistician Dennis Mapa noted that while October’s jobless rate is lower than the 4.2% recorded in the same month last year, the uptick from September’s 3.7% highlights lingering employment challenges.
Underemployment—workers seeking additional jobs or longer hours—also surged to 12.6% in October, equating to 6.08 million Filipinos. This figure represents a significant increase from 11.9% in September and 11.7% in October 2022, suggesting a growing need for better job quality and compensation.
The PSA stressed that underemployment reflects the inadequacy of existing employment opportunities in the country, with many workers unable to find sustainable income sources.
Economists and policymakers are closely monitoring these trends, pushing for programs to improve job quality and generate meaningful employment.
As economic recovery remains sluggish, concerns over rising underemployment emphasize the need for structural reforms in the labor market to address job mismatches and inadequate wages.
