The unemployment rate in the Philippines dropped to 5.7 percent in April 2022 from 8.7 percent in the same month a year earlier, as the economy recovered further from the coronavirus disruptions. The number of unemployed was at 2.76 million, down from 4.14 million in April 2021. Meantime, the number of employed came in at 45.63 million, up from 43.27 million the year before. The labor force participation rate edged up to 63.4 percent from 63.2 in April 2021. In March 2022, the jobless rate was at 5.8 percent. source: Philippine Statistics Authority
Unemployment Rate in Philippines averaged 8.57 percent from 1986 until 2022, reaching an all time high of 17.60 percent in June of 2020 and a record low of 4.59 percent in December of 2019. This page provides - Philippines Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Unemployment Rate in Philippines is expected to be 6.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Unemployment Rate is projected to trend around 6.20 percent in 2023 and 6.00 percent in 2024, according to our econometric models.