MANILA, Philippines — The Philippines’ unemployment rate slid down to 4% in August, translating to 2.07 million Filipinos who are jobless, the Philippine Statistics Authority (PSA) said on Tuesday, October 8.
This is an improvement from the July unemployment rate, which was at 4.7%.
“In terms of magnitude, the number of unemployed individuals in August 2024 was registered at 2.07 million. This was lower than the estimated number of unemployed persons of 2.22 million in August 2023 and 2.38 million in July 2024,” the PSA said.
This means the employment rate is currently at 96%, which translates to 49.15 million employed individuals.
The labor force participation rate (LFPR), which is the ratio of the working age population to the actual labor force, is currently at 64.7% for August. This participation rate is higher than the 63.5% in July.
Underemployment, or those who need additional work hours or a second job, is at 11.2% or 5.48 million people.
“The reported LFPR in August 2024 translates to a total of 51.22 million Filipinos aged 15 years old and over who were in the labor force, or those who were either employed or unemployed,” the PSA said.
The PSA also said that employed persons worked an average of 40.7 hours per week.
It should be noted that the government considers a person employed if they work at least one hour a week.
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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