The unemployment rate in the Philippines improved to 4.4 percent in November from 5 percent in October but worsened from 3.2 percent a year earlier, largely due to weather-related disruptions.
The labor force participation rate increased to 64 percent from 63.6 percent in October, although it remained below the 64.6 percent recorded in November 2024. The employment rate also rose month-on-month to 95.6 percent from 95 percent but was lower than the 96.8 percent level a year ago. Underemployment declined to 10.4 percent in November from 12 percent in October and 10.8 percent a year earlier.
Citing the PSA report, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said around 873,000 jobs were lost in November, mostly in sectors affected by cyclones such as accommodation and food services, wholesale and retail trade, and fishing and aquaculture.
He said the government is prioritizing investments in skills development, lifelong learning, and social protection to help workers transition across sectors and absorb economic shocks.
“Strengthening workforce competitiveness is key to attracting investments that generate quality jobs,” Balisacan said.
He added that the government is assisting businesses in developing Business Continuity and Resiliency Plans to reduce disruptions and protect workers. DEPDev also supports the full implementation of the Philippine Innovation Act (Republic Act No. 11293) to strengthen the innovation ecosystem, encourage entrepreneurship, and boost labor demand.
“The 2026 National Budget serves as a strategic roadmap to safeguard economic recovery and sustain progress toward long-term development goals,” Balisacan said, citing its focus on education, health, agriculture, social protection, and job creation.
Despite November job losses, Rizal Commercial Banking Corporation chief economist Michael Ricafort said employment could rebound in December due to improved weather conditions and increased demand during the Christmas season. He noted that unemployment rates of 3 to 4 percent remain among the lowest in nearly 20 years based on data since 2005.
Ricafort added that the government’s 2026 catch-up spending plan, anchored on anti-corruption and governance reforms, could further boost investor confidence, economic activity, and employment if fully implemented.
PNA PHOTO