The Philippine economy could weaken further in 2026 as the prolonged war in the Middle East, governance concerns, and El Niño threaten growth while elevated inflation and borrowing costs cloud the outlook, the Department of Economy, Planning, and Development (DEPDev) warned. “The country’s...
A grim word is beginning to circulate in discussions of the Philippine economy: stagflation. Strictly speaking, the country is not there yet. Growth has slowed sharply and inflation remains uncomfortable, but unemployment is not exceptionally high and output continues to expand. A better...
The Philippines must push through political and economic reforms in the final two years of the Marcos Jr. administration to rebuild confidence and strengthen the economy’s growth potential, according to the country’s chief economist. During the Development Budget Coordination Committee (DBCC)...
The Philippines remains far from stagflation despite high inflation and sluggish economic growth, members of the Marcos Jr. administration’s economic team said, pushing back against Monetary Board Member (MBM) Benjamin E. Diokno’s characterization of the current situation as “stagflation...
Many fresh graduates struggled to find jobs in June as the country’s unemployment rate worsened from both a month and a year ago, with the labor market unable to absorb a surge in new entrants despite continued job creation. The Philippine Statistics Authority’s (PSA) latest labor force survey...
Malacañang has attributed the rise in the country 's unemployment rate in May to the global oil crisis stemming from the conflict in the Middle East, saying the government had anticipated the impact and continues to roll out interventions to help affected workers. Presidential Communications...
Malacañang said the recent slowdown in the unemployment rate will not lead the government to become complacent in addressing unemployment in the country. Unemployment rate slowed down to 4.7 percent in April from 5.8 percent in March. Employment rose to 48.89 million in April 2026, with the...
Local unemployment rate stood at 4.7 percent in April, the highest jobless rate for April rounds of the government’s labor force surveys (LFS) since the 5.7 percent recorded in April 2022, with agriculture and wholesale and retail trade shedding the most jobs. National Statistician Claire Dennis...
In an apparent swipe at the current administration, Vice President Sara Duterte criticized leaders who are heavily affected by public criticism, saying officials who react strongly to ordinary citizens are “sensitive, insecure, and afraid,” while also blaming poor governance for rising...
The 13-committee House Legislative Energy Action Development (LEAD) Council must also provide ample attention to the problem of rising unemployment in the country. Thus, said Cavite 1st district Rep. Jolo Revilla, who cited the latest Philippine Statistics Authority (PSA) data which showed renewed...
The Philippines is facing an inflationary shock that could spill over to slower economic growth, potential job losses, and more capital market outflows amid a prolonged Middle East conflict, according to the World Bank. The global oil price and supply shock wrought by the war in Iran would “raise...
Many Filipinos experienced temporary unemployment and reduced working hours after the holiday season as seasonal jobs ended, but formal wage and salary employment continued to grow, the Department of Labor and Employment (DOLE) said. In a statement, the department said the rise in unemployment...
