Unemployment Rate 2024 Philippines. In december 2023, the philippines recorded the lowest unemployment rate since 2005 at 3.1%, indicating sustained enhancement in the labor market as more filipinos are. The number of unemployed persons increased to 2.38 million from 2.29 million in july 2023, while employment rose to 47.70 million from 44.56.

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. The philippines’ unemployment rate fell to 4.1 percent in may 2024, down from 4.3 percent in the same month last year, the philippine statistics authority said monday.