Philippines' jobless rate falls to 3.2 pct in November 2024

MANILA:The Philippines' unemployment rate in November 2024 fell to 3.2 percent, down from 3.9 percent in the previous month, the Philippine Statistics Authority (PSA) said Wednesday.

PSA head Dennis Mapa said at a press conference that an estimated 1.66 million Filipinos were out of work in November 2024, lower than 1.97 million jobless Filipinos in October 2024.

The unemployment rate in November 2023 was recorded at 3.6 percent, the PSA data showed.

National Economic and Development Authority Secretary Arsenio Balisacan said the Philippines' labor market "remains robust, with consistently high employment rates and reduced underemployment."

"The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy," he added.

Moreover, Balisacan said the government "will encourage business upgrading and skills training programs to ensure that these jobs offer competitive wages as our workers raise their productivity by developing their human capital."

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