Philippines’ October jobless rate jumps to 5%

The number of jobless Filipinos rose by about 570,000 to 2.54 million in October from a year earlier, even as overall employment increased by 460,000, the Philippine Statistics Authority (PSA) reported on Wednesday, underscoring persistent vulnerabilities in the labor market despite headline job gains.

This brought the jobless rate to 5% from 3.8% in the previous month and 3.9% a year ago — close to the post-pandemic high posted in July, when unemployment hit 5.3% or 2.59 million people.

PSA Undersecretary and National Statistician Claire Dennis S. Mapa attributed the rise in joblessness to recent typhoons, even as he cited “good signs,” including rising employment in the agriculture sector, which added 168,000 jobs from a year ago.

“We saw an increase of 1.87 million in agriculture and forestry jobs quarter on quarter, with the biggest contributor being the growing of paddy rice, as the peak season for rice farming falls in the fourth quarter,” he added.

The PSA’s latest labor-force survey showed that while many found work, a significant segment remains jobless — meaning economic improvements may not be reaching all sectors.

Still, the increase in employed people — particularly those aged 15 and over — reflects underlying demand in industries like retail, construction and services. Such gains offer hope that economic activity is picking up ahead of the holiday season.

Labor force participation rose to 63.6% in October from 63.3% a year earlier and 64.5% in September, the statistics agency said in a statement.

In October, services accounted for the biggest share of total employment at 60.6%, followed by agriculture with 21.5% and Industry at 17.9%.

Underemployment, which covers workers seeking more hours or better-paying jobs, was 12% compared with 12.6% a year earlier and 11.1% in September. — Erika Mae P. Sinaking