Philippines Unemployment Rate

Unemployment Rate in Philippines increased to 7.50 percent in the fourth quarter of 2013 from 6.50 percent in the third quarter of 2013. Unemployment Rate in Philippines is reported by the National Statistics Office of Philippines. Unemployment Rate in Philippines averaged 9.01 Percent from 1994 until 2013, reaching an all time high of 13.90 Percent in the first quarter of 2000 and a record low of 6.30 Percent in the third quarter of 2007. In Philippines, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - Philippines Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.50 6.50 13.90 6.30 7.50 | 2014/03 1994 - 2013 Percent Quarterly

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Philippines Unemployment Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-11 04:30 AM Philippines
Unemployment Rate
Q1 2013 7.5% 7.1% 7.12%
2013-09-10 03:30 AM Philippines
Unemployment Rate
Q2 2013 7.3% 7.5% 7.7%
2013-12-10 04:30 AM Philippines
Unemployment Rate
Q3 2013 6.5% 7.3% 7.4%
2014-03-11 01:00 AM Philippines
Unemployment Rate
Q4 2013 7.5% 6.5% 7%
2014-06-10 02:00 AM Philippines
Unemployment Rate
Q1 2014 7.5% 7.5%
2014-09-10 02:00 AM Philippines
Unemployment Rate
Q2 2014 9%
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Labour Last Previous Highest Lowest Forecast Unit
Employed Persons 36420.00 2014-03-31 37733.00 38545.00 18567.00 36818.20 2014-06-30 Thousand [+]
Job Vacancies 319720.00 2009-06-15 199942.00 319720.00 3036.00 307923.17 2009-07-31 [+]
Labor Force Participation Rate 63.80 2014-02-15 63.90 94.70 63.20 64.58 2014-06-30 Percent [+]
Unemployment Rate 7.50 2013-12-31 6.50 13.90 6.30 7.50 2014-03-31 Percent [+]
Unemployed Persons 2969.00 2014-03-31 2602.00 4989.00 1720.00 3154.37 2014-06-30 Thousand [+]
Wages 2327.50 2013-02-15 2613.30 2613.30 870.27 2440.47 2013-06-30 Index Points [+]
Wages in Manufacturing 1057.50 2013-02-15 1240.20 1391.40 638.86 1141.68 2013-06-30 Index Points [+]
Population 95.80 2012-12-31 94.85 95.80 27.06 96.77 2013-12-31 Million [+]
[+]


Philippines Unemployment Rate Up to 7.5%

In January of 2014, Philippines jobless rate rose to 7.5 percent, up from 6.5 percent in the previous period and 7.1 percent a year ago. Typhoon-hit region VIII was not covered in the survey.

There were nearly 3 million unemployed in the Philippines, up from 2.8 million in January 2013. Among the regions, the National Capital Region continued to have the highest unemployment rate at 11.2 percent, while it was 9.5 percent for January 2013.

Among the unemployed persons, 63.9 percent were males. Of the total unemployed, the age group 15 to 24 years comprised 48.2 percent, while the age group 25 to 34, 29.9 percent. By educational attainment, about one-fifth (19.8 percent) of the unemployed were college graduates, 13.3 percent were college undergraduates, and 34.0 percent were high school graduates.

The employment rate is estimated at 92.5 percent. Workers in the services sector continued to comprise the largest proportion of the population who are employed. These workers made up 54.1 percent of the total employed in January 2014. Employed in agriculture sector comprised the second largest group making up 30.0 percent, while workers in the industry sector made up the smallest group registering 15.9 percent. Among the major occupation groups, the laborers and unskilled workers remained the largest group making up 31.3 percent of the total employed.

National Statistics Office | Isabel Felino | isabel.felino@tradingeconomics.com
3/11/2014 1:51:38 PM

RECENT RELEASES

Philippines Unemployment Rate Down to 2-Year Low in October
In October of 2013, Philippines jobless rate fell to 6.5 percent, the lowest value since since October of 2011. Published on 2013-12-10

Philippines Unemployment Rate At 7.3% in July
Philippines jobless rate dropped to 7.3 percent in July from 7.5 percent reported in April. Over a year ago, the number of unemployed people increased 200 thousand to 3 million. Published on 2013-09-10


Unemployment Rate | Notes
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment.


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At its February 2nd meeting, Philippines' Central Bank decided to keep its key policy rate unchanged at 3.50 percent as recent inflationary pressures are mainly due to adverse weather conditions.
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In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month.
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Philippines Q4 2013 GDP Growth Hurt by Typhoon Haiyan  
In the fourth quarter of 2013, Philippines GDP slowed to an annual growth rate of 6.5 percent, down from a revised 6.9 percent in the previous three months and 7.1 percent a year earlier. Although Typhoon Haiyan hit the economy, robust household consumption made the GDP figures better than initial government estimates. Full 2013 GDP expanded 7.2 percent.
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