Unemployment rate in the Philippines picked up to 4.3 percent in January 2025 from a record low of 3.1 percent in December 2024, data from the Philippine
Manila Standard Business Statistics Authority show.“In terms of magnitude, the number of unemployed individuals in January 2025 was posted at 2.16 million, the same estimate recorded in January 2024,” the PSA said.
The National Economic and Development Authority said the government would cultivate “a dynamic and investment-friendly economy” while equipping the workforce with industry-standard skills to maintain the upward trajectory of the Philippine labor market. NEDA Secretary Arsenio Balisacan attributed the labor market’s strong performance to the government’s commitment to creating an enabling business environment while equipping the workforce with industry-relevant skills.
NEDA said the recently-signed Implementing Rules and Regulations for the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy or CREATE MORE Act would create a more favorable investment climate for businesses. The law streamlines fiscal incentive policies, clarifies investment rules, and enhances the ease of doing business, making the Philippines a more attractive investment hub.
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