Unemployment Rate 2024 Philippines. In may 2024, the unemployment rate decreased to 4.1 percent, from 4.3 percent in the same month last year. Philippine statistics authority (psa) data showed the country’s unemployment rate slowed to 4.4 percent in august from the 4.8 percent in july 2023.
The philippines’ labor market continues to improve with its unemployment rate reaching the lowest level since 2005 at 3.6 percent in november 2023. The country’s unemployment rate in march 2024 was estimated at 3.9 percent.