In 2020, the number of persons who were in the labor force was estimated at 43.9 million. This number represents the economically active population, either employed or unemployed, accounting for 59.5 percent labor force participation rate (LFPR) of the 73.7 million population 15 years old and over. This translates to three in every five of the population 15 years and over who were either employed or unemployed. This annual LFPR is lowest since the adoption of the new definition of unemployed in April 2005, reflecting the effect of the various community quarantine restrictions, business closures, and physical distancing measures that were put in place in the Philippines starting March 2020 amidst the Coronavirus disease 2019 (COVID-19) pandemic. (Table A, and Figure 1)

The country’s unemployment rate in October 2020 was estimated at 8.7 percent. This is equivalent to 3.8 million unemployed Filipinos who are 15 years old and over. This unemployment rate is the lowest since April this year although it is still higher than the 4.6 percent (or about 2.0 million unemployed Filipinos who are 15 years old and over) in the same period a year ago. (Table A)