Jobless rate declines to 3.2% in November

The country saw a drop in unemployment in November as more people secured jobs due to greater labor demand by certain sectors during the holiday season, according to the Philippine Statistics Authority (PSA).

- By LOUELLA DESIDERIO

In a press conference, National Statistician Dennis Mapa said based on the latest Labor Force Survey conducted by the PSA, the unemployment rate declined to 3.2 percent in November 2024 from 3.9 percent in October of the same year and 3.6 percent in November 2023.

This translates to 1.66 million jobless Filipinos in November 2024, down from the previous month's 1.97 million and 1.83 million in November 2023.

The employment rate, on the other hand, rose to 96.8 percent in November last year from 96.1 percent in October 2024 and 96.4 percent in November 2023.

This is equivalent to 49.54 million employed Filipinos in November 2024, higher than the 48.16 million in October last year, but down from 49.64 million in November 2023.

Mapa cited the seasonal increase in demand for labor during the holiday season in the last quarter of the year as the reason for the latest improvement in employment and unemployment data.

"Usually in the last quarter, those three months, we see an increase in accommodation services, restaurants and of course, key inputs of these like food products," he said.