Employment rate in PH rises, 4.2 million join workforce
MANILA, PHILIPPINES – The Philippines’ employment rate continues to improve as 4.2 million workers joined the labor force in November.
The Philippines Statistics Authority (PSA) reported that the employment rate increased to 95.8 per cent. This brings that total number of employed individuals to 49.7 million.
This pulled down the unemployment rate to 4.2 per cent in November 2022 from 6.5 per cent in the same period in 2021.
In a statement, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the strong labor market signifies the steady recovery of the country’s economy.
“With the release of the Philippine Development Plan (PDP) 2023-2028, we are starting our work toward deepening economic and social transformation,” Balisacan said.
The labor force participation rate increased to 67.5 percent in November 2022 from 64.2 percent in the same month during the previous year.
“We see a more dynamic labor market as flexible work arrangements and digitalization provide easier access to employment opportunities for Filipinos who also attend to other essential tasks such as parenting and pursuing higher education, among others,” Balisacan said.
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