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December 2024 unemployment drops to 3.1%, DOLE says citing survey

Philippines | National

December 2024 unemployment drops to 3.1%, DOLE says citing survey

By Trixee Rosel

The unemployment rate for December last year went down to 3.1 percent, the Department of Labor and Employment (DOLE) said on Thursday, Feb. 6.

DOLE Secretary Bienvenido E. Laguesma said the latest Labor Force Survey (LFS) showed a decrease from 3.2 percent in November 2024, reflecting sustained economic growth and job generation across key sectors.

Laguesma attributed the improvement to continued expansion in construction, wholesale and retail trade, motor vehicle repair, and food services, which supported a 96.9 percent employment rate.

The survey recorded 50.19 million employed individuals in December 2024, slightly lower than the 50.52 million reported in the same month of 2023.

Labor force participation stood at 65.1 percent, translating to 51.81 million employed and unemployed individuals, compared to 66.6 percent and 52.13 million in December 2023.

The decline in participation suggests demographic and economic shifts, which DOLE continues to monitor while advancing efforts to enhance job accessibility.

Laguesma noted that while the jobless rate improved, underemployment remained a challenge, reaching 10.19 percent in December 2024, down from 11.9 percent in the same month the previous year.

He attributed fluctuations in underemployment to the seasonal nature of temporary jobs, which the government is addressing through targeted labor initiatives.

“The seasonality of temporary employment affects underemployment figures, but the government is actively working on sustainable solutions through a whole-of-government approach,” Laguesma said.

DOLE reaffirmed its commitment to strengthening job-matching programs, expanding upskilling initiatives, and fostering industry partnerships to improve employment stability and labor market resilience.

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