Philippines closes 2024 with fewer jobless Pinoys at 1.63M in December

The number of jobless Filipinos declined further in December last year —concluding 2024 with fewer unemployed individuals— amid the seasonal increase in demand for labor during the holidays, according to results of the Philippine Statistics Authority’s (PSA) Labor Force Survey.

At a press conference on Thursday, PSA chief National Statistician Claire Dennis Mapa reported that jobless persons, ages 15 and above, eased to 1.63 million from 1.66 million in November 2024.

As a percentage of 51.81 million Filipinos in the labor force, who are actively looking for jobs and livelihoods during the period, the number of jobless persons translated to an unemployment rate of 3.1%, down from 3.2% month-on-month.

For the whole 2024, the estimated number of unemployed persons stood at 1.94 million, down from 2.19 million in 2023 with an unemployment rate of 3.8% versus 4.4% year-on-year.

This was the lowest unemployment rate since 2005, according to the PSA chief.

Meanwhile, employed persons grew to 50.19 million in December 2024 from 49.54 million in November 2024.

As a percentage of those in the labor force, the employment rate was estimated at 96.9%, up from 96.8% month-on-month.

For the entire 2024, the number of employed Filipinos was estimated at 48.85 million, up from 48.18 million in 2023 with an employment rate of 96.2% compared to 95.6% year-on-year.

Mapa attributed the favorable labor figures to the seasonal increase in demand for workers related to the holidays in the last month of 2024.

The services sector continued as the dominate in terms of the number of employed persons with a share of 60.5% to the total number. 

The agriculture and industry sectors followed accounting for 21.3% and 18.3% of the total number of employed persons, respectively.

The top five sub-sectors with the largest month-on-month increase in the number of employed during December 2024 were the following:

• Agriculture and forestry - 735,000
• Construction - 583,000
• Public administration and defense; compulsory social security - 307,000
• Transportation and storage - 184,000
• Financial and insurance activities - 96,000

On the other hand, the top five sub-sectors with the highest drop in the number of employed persons from November 2024 to December 2024 were as follows:

• Wholesale and retail trade; repair of motor vehicles and motorcycles - 391,000
• Manufacturing - 305,000
• Other service activities - 288,000
• Accommodation and food service activities - 219,000
• Administrative and support service activities - 114,000

Underemployment

The number of underemployed persons, those who expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work, stood at 5.48 million of the 50.19 million employed individuals during the period.

For the whole 2024, underemployed individuals were estimated at 5.8 million versus 5.9 million in 2023.

In a statement, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said that the latest underemployment figures showed that “job quality has improved, and fewer workers are looking for extra hours or jobs.”

"Following the strategies outlined in the Philippine Development Report 2024, particularly those that strengthen the labor market, is crucial to sustaining our economic momentum and providing higher earning opportunities for Filipinos. The government remains committed to advancing both supply- and demand-side measures that will foster a more dynamic labor environment and meet the targets set in the Philippine Development Plan 2023-2028," said Balisacan.

To align with workforce trends and industry demands, the NEDA chief said the government is promoting more inclusive work arrangements that meet the needs of individuals from diverse backgrounds, reducing barriers to labor force participation.

Efforts to expand employability will also be intensified, including the implementation of the Enterprise-Based Education and Training (EBET) Framework to equip workers with industry-relevant skills, according to Balisacan.

Wage and salary workers

The PSA chief also reported that wage and salary workers continued to account for the largest share of employed persons with 63.1% of the total number of employed persons in December 2024. 

This was followed by self-employed persons without any paid employee at 28.5% and unpaid family workers at 6.8%. 

Employers in their own family-operated farm or business had the lowest share of 1.6%. 

Among wage and salary workers, those employed in private establishments remained to have the highest share of 78.9% of the total number of wage and salary workers or 49.8% of the total number of employed persons during the period. 

This was followed by those employed in government or government-controlled corporations with a share of 14.4% of the total number of wage and salary workers or 9.1% of the total number of employed persons.

“By strengthening social protection, fostering a dynamic and inclusive labor market, and ensuring that economic gains benefit all Filipinos, we can create a workforce that is resilient and future-ready. Our goal is to sustain job creation, improve the quality of employment, and provide every Filipino with opportunities for long-term economic security,” said Balisacan.—AOL, GMA Integrated News