The Philippines saw a decrease in unemployment and underemployment in November 2024, attributed to businesses preparing for the holiday season. The unemployment rate fell to 3.2%, while the underemployment rate dropped to 10.8%. The manufacturing and wholesale and retail industries experienced significant job growth, with the manufacturing sector adding 784,000 jobs and the retail sector increasing employment by 746,000 jobs.
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The unemployment rate fell to 3.2% last November from 3.6% in the same month in 2023, which translated to 1.66 million jobless Filipinos. Mapa said the increase in manufacturing and retail jobs in November was expected due to the holiday season. “Affected din tayo sa mga ber months kasi mataas dito ang transport and storage, may pagbawas dito sa mga bilang ng underemployed ng mga 144,000, at ang malaking nag-contribute ay ‘yung passenger land transport,”The PSA noted that the agriculture and fisheries sector lost the most jobs since November 2023, with 1.99 million workers losing their jobs.
EMPLOYMENT RETAIL MANUFACTURING PHILIPPINES HOLIDAY SEASON
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