Philippines: Unemployment Rate
The unemployment rate in the Philippines in the three months from May to July 2019 stood at 5.4%. The figure remains unchanged from the same period in 2018 and increases slightly compared to the previous three months (February - April).
The unemployment rate stays under 6% since 2016 – the year when the lowest ever figure was recorded (4.70% in August - October). On the other hand, the highest unemployment rate was registered in the quarter from February to April 1991 – 14.40%.
In absolute terms, in the quarter from May to July 2019, the number of unemployed people were 2.43 million, up 150,000 people from the previous quarter (February-Apr 2019). The participation rate in the Philippines was 62.10% in the three months to July 2019 and has been steadily rising since the beginning of this year.
64% of the population is of working age and this share is likely to grow in 2020.
Detailed data and analysis on the Philippines’ Labor market can be found in the CEIC