The Philippines saw a notable increase in unemployment in January 2025, prompting NEDA to outline strategies for sustained job creation and workforce development.
The Philippines witnessed a surge in its unemployment rate to 4.3 percent in January 2025, marking a significant increase from the record low of 3.1 percent recorded in December 2024, according to data released by the Philippine Statistics Authority (PSA). While the number of unemployed individuals remained consistent with January 2024, at 2.16 million, the rise in unemployment was accompanied by an increase in underemployment to 13.3 percent from 10.9 percent in December.
Underemployment signifies individuals seeking additional work hours or a more suitable job beyond their current position. The National Economic and Development Authority (NEDA) attributed the labor market's strong performance to the government's commitment to fostering a business-friendly environment while equipping the workforce with relevant skills. NEDA emphasized the need to sustain job creation by encouraging investment in a dynamic economy and preparing the workforce for high-growth industries that offer quality, well-paying jobs. They underscored that while the increase in jobs is positive, a significant portion of these are classified as vulnerable and require further attention.NEDA highlighted the government's efforts to create a favorable investment climate through initiatives like the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. This act aims to streamline fiscal policies, clarify investment rules, and enhance the ease of doing business, attracting both domestic and foreign investment. To support resilience in the agriculture sector and address vulnerable employment, NEDA emphasized the strengthening of early warning systems leveraging artificial intelligence for improved disaster prediction. In the IT-BPM sector, NEDA plans to promote reskilling and upskilling initiatives to equip the workforce with the advanced skills required for the evolving industry landscape, particularly amidst the integration of AI. NEDA is also seeking public feedback on the Trabaho Para sa Bayan (TPB) Plan, a roadmap for creating a more inclusive, efficient, and dynamic labor market
Philippines Unemployment Rate Labor Market NEDA Job Creation Workforce Development Investment Climate CREATE MORE Act Vulnerable Employment
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