The Philippines saw a decline in unemployment in November 2024, driven by the seasonal increase in demand for labor during the holiday season. The unemployment rate fell to 3.2% from 3.9% in October, with 1.66 million Filipinos jobless compared to 1.97 million in the previous month.
The number of jobless Filipinos posted a decline in November 2024 amid the seasonal increase in demand for labor during the “ber” months leading to the holidays, the Philippines Statistics Authority reported on Wednesday.At a press conference, PSA chief and National Statistician Claire Dennis Mapa said jobless individuals, ages 15 and above, stood at 1.66 million, lower than the 1.97 million jobless in October 2024.
54 million employed individuals expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work in November last year."Our 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.
Philippines Unemployment Labor Force Holiday Season Economy
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines Posts $2.3 Billion Balance of Payments Deficit in November 2024The Philippines recorded a $2.3 billion balance of payments (BOP) deficit in November 2024, a significant jump from the $216 million deficit in the same month last year. The Bangko Sentral ng Pilipinas (BSP) attributed the deficit to the national government's foreign currency withdrawals to settle debt obligations and expenditures, as well as the BSP's net foreign exchange operations. Despite the November deficit, the cumulative BOP position from January to November 2024 still showed a surplus of $2.1 billion. Lower net receipts from trade in services and government net foreign borrowing contributed to the decline in the cumulative surplus. However, this was partially offset by continued net inflows from personal remittances, foreign portfolio investments, and direct investments. The BOP position resulted in a decrease in the gross international reserves (GIR) to $108.5 billion as of end-November 2024, from $111.1 billion at the end of October 2024. Despite the decrease, the GIR still provides a more than adequate external liquidity buffer equivalent to 7.7 months' worth of imports and payments of services and primary income.
Read more »
Hot Money Inflows Plunge in NovemberPhilippines sees sharp decline in hot money inflows for November 2024 compared to previous year.
Read more »
Eala ends 2024 season at 149th in world rankingsMANILA, Philippines — Alex Eala of the Philippines finished the 2024 season placing 149th in the world.
Read more »
Discovery Suites is Extended Stay Hotel of the Year - Philippines at TDM Travel Excellence Awards 2024Discovery Suites has been recognised as the Extended Stay Hotel of the Year – Philippines at the TDM Travel Trade Excellence Awards 2024 – Asia, standing out for its ability to provide comfort, convenience, and luxury for guests seeking a “home away from home.
Read more »
World Bank sees 6% growth rate for Philippines from 2024 to 2026Private consumption will likely remain the main engine of growth from 2024 to 2026 fueled by OFW remittances, stable inflation, and higher employment rates, says the bank's outlook for the Philippines
Read more »
PNP seizes P44-M illegal drugs in November 2024The Drug Enforcement Group of the Philippine National Police (PNP-DEG) seized almost P44 million worth of illegal drugs and arrested 63 people in a series of operations in the month of November this year.
Read more »