Table A-1. Key Labor and Employment Indicators 2019f-October 2024p
| Philippines | Labor Force Participation Rate (%) | Employment Rate (%) | Underemployment Rate (%) | Unemployment Rate (%) |
| 2019f | 61.3 | 94.9 | 13.8 | 5.1 |
| 2020f | 59.5 | 89.7 | 16.2 | 10.3 |
| 2021f | 63.3 | 92.2 | 15.9 | 7.8 |
| 2022f | 64.7 | 94.6 | 14.2 | 5.4 |
| 2023p | 64.9 | 95.6 | 12.3 | 4.4 |
| Januaryf | 64.5 | 95.2 | 14.1 | 4.8 |
| Februaryf | 66.6 | 95.2 | 12.9 | 4.8 |
| Marchf | 66.0 | 95.3 | 11.2 | 4.7 |
| Aprilf | 65.1 | 95.5 | 12.9 | 4.5 |
| Mayf | 65.3 | 95.7 | 11.7 | 4.3 |
| Junef | 66.1 | 95.5 | 12.0 | 4.5 |
| Julyf | 60.0 | 95.1 | 15.9 | 4.9 |
| Augustf | 64.7 | 95.6 | 11.7 | 4.4 |
| Septemberf | 64.1 | 95.5 | 10.7 | 4.5 |
| Octoberf | 63.9 | 95.8 | 11.7 | 4.2 |
| Novemberp | 65.9 | 96.4 | 11.7 | 3.6 |
| Decemberp | 66.6 | 96.9 | 11.9 | 3.1 |
| 2024p | 64.3 | 96.0 | 12.1 | 4.0 |
| Januaryp | 61.1 | 95.5 | 13.9 | 4.5 |
| Februaryp | 64.8 | 96.5 | 12.4 | 3.5 |
| Marchp | 65.3 | 96.1 | 11.0 | 3.9 |
| Aprilp | 64.1 | 96.0 | 14.6 | 4.0 |
| Mayp | 64.8 | 95.9 | 9.9 | 4.1 |
| Junep | 66.0 | 96.9 | 12.1 | 3.1 |
| Julyp | 63.5 | 95.3 | 12.1 | 4.7 |
| Augustp | 64.8 | 96.0 | 11.2 | 4.0 |
| Septemberp | 65.7 | 96.3 | 11.9 | 3.7 |
| Octoberp | 63.3 | 96.1 | 12.6 | 3.9 |
Notes:
f Estimates are final
p Estimates are preliminary and may change
Source: Philippine Statistics Authority, Labor Force Survey
Highlights of the October 2024 Labor Force Survey
The country’s unemployment rate in October 2024 decreased to 3.9 percent, from 4.2 percent in October 2023. The unemployment rate in July 2024 was estimated at 4.7 percent. (Table A-1)
In terms of magnitude, the number of unemployed individuals in October 2024 was posted at 1.97 million. This was lower than the estimated number of unemployed persons of 2.09 million in October 2023. The number of unemployed individuals in July 2024 was posted at 2.38 million. (Table A)
In October 2024, the employment rate was recorded at 96.1 percent. This was higher than the employment rate in October 2023 at 95.8 percent, and in July 2024 at 95.3 percent. (Table A-1)
In terms of levels, the number of employed persons in October 2024 was recorded at 48.16 million. This was higher than the number of employed persons of 47.79 million in October 2023 and in July 2024 at 47.70 million. (Table A)
The labor force participation rate (LFPR) in October 2024 was estimated at 63.3 percent, lower than the estimated LFPR in October 2023 at 63.9 percent and in July 2024 at 63.5 percent. (Table A-1)
The reported LFPR in October 2024 translates to a total of 50.12 million Filipinos aged 15 years old and over who were in the labor force, or those who were either employed or unemployed. The number of individuals aged 15 years old and over who were in the labor force was 49.88 million in October 2023 and 50.07 million in July 2024. (Table A)
On average, employed persons worked 41.0 hours per week. This was lower than the average hours worked in a week in October 2023 at 41.2 hours and in July 2024 at 41.1 hours. (Table A)
About 45 thousand employed persons worked for exactly one hour in October 2024 or 0.09 percent of the total number of employed persons. This is slightly higher than the recorded number in October 2023 at 41 thousand employed persons (0.09%), but lower than that of July 2024 at 53 thousand employed persons (0.11%). (Table 2)
The underemployment rate in October 2024 increased to 12.6 percent, from 11.7 percent in October 2023 and 12.1 percent in July 2024. (Table A-1)
In terms of magnitude, 6.08 million of the 48.16 million employed individuals expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work in October 2024. (Table A)
By broad industry group, services continued to be the top sector in terms of the number of employed persons with a share of 61.0 percent of the total employed persons in October 2024. The agriculture and industry sectors accounted for 21.2 percent and 17.9 percent of the total number of employed persons, respectively. (Table 1)
The top five sub-sectors in terms of annual increase in the number of employed persons in October 2024 were the following:
- Administrative and support service activities (247 thousand);
- Accommodation and food service activities (215 thousand);
- Transportation and storage (202 thousand);
- Construction (121 thousand); and
- Mining and quarrying (101 thousand).
In contrast, the following five sub-sectors posted the highest annual decreases in the number of employed persons:
- Fishing and aquaculture (-213 thousand);
- Wholesale and retail trade; repair of motor vehicles and motorcycles (-212 thousand);
- Agriculture and forestry (-183 thousand);
- Manufacturing (-123 thousand); and
- Other service activities (-23 thousand);
(Table B)
As to quarter-on-quarter changes in the number of employed persons in October 2024, the top five sub-sectors with the largest increase were the following:
- Agriculture and forestry (265 thousand);
- Administrative and support service activities (260 thousand);
- Human health and social work activities (123 thousand);
- Education (122 thousand); and
- Transportation and storage (107 thousand).
On the other hand, the top five sub-sectors with the largest drop in the number of employed persons from July 2024 to October 2024 were the following:
- Fishing and aquaculture (-190 thousand);
- Public administration and defense; compulsory social security (-132 thousand);
- Other service activities (-99 thousand);
- Arts, entertainment and recreation (-61 thousand); and
- Construction (-58 thousand); ;
(Table B)
Wage and salary workers continued to account for the largest share of employed persons with 63.8 percent of the total number of employed persons in October 2024. This was followed by self-employed persons without any paid employee at 27.7 percent and unpaid family workers at 5.9 percent. Employers in own family-operated farm or business had the lowest share of 2.6 percent. (Table 1)
Among wage and salary workers, those employed in private establishments remained to have the highest share at 78.2 percent of the wage and salary workers or 49.9 percent of the total number of employed persons. This was followed by those employed in government or government-controlled corporations with a share of 14.6 percent of the wage and salary workers or 9.3 percent of the total number of employed persons during the period. (Table 1)
Among regions, Region IV-A (CALABARZON) registered the highest unemployment rate of 5.7 percent in October 2024, while Cordillera Administrative Region (CAR) had the lowest unemployment rate of 2.3 percent. (Table 4)
Youth LFPR decreased to 31.3 percent in October 2024 from 34.1 percent in October 2023 and 34.2 percent in July 2024. Youth employment rate was estimated at 87.5 percent in October 2024, lower than the estimated rate of 88.6 percent in October 2023.
The proportion of youth not in education, employment, or training (NEET) in October 2024 increased to 12.4 percent, from 11.7 percent in October 2023. (Table A)
(Sgd.) CLAIRE DENNIS S. MAPA, PhD
Undersecretary
National Statistician and Civil Registrar General
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