MANILA, Philippines — The country’s unemployment rate remained steady at 3.1 percent in December 2024, reflecting the same rate as in December 2023, according to the Philippine Statistics Authority on Thursday.

In terms of magnitude, the number of unemployed individuals was recorded at 1.63 million in December 2024, a slight increase from 1.60 million in the same month last year but lower than the 1.66 million unemployed persons in November 2024.

The data noted that the country’s employment rate stood at 96.9 percent, unchanged from December 2023. However, it was slightly higher than the 96.8 percent recorded in November 2024. In terms of employed persons, there were 50.19 million individuals working in December 2024, a decline from 50.52 million in December 2023, but an increase from 49.54 million in November 2024.

On average, employed persons worked 40.9 hours per week in December 2024, a slight increase from the 40.6 hours worked during the same month in 2023, but a decrease from the 41.1 hours worked in November 2024.

The underemployment rate saw a positive shift, decreasing to 10.9 percent in December 2024, compared to 11.9 percent in December 2023. 

In November 2024, the underemployment rate was slightly lower at 10.8 percent. 

The PSA defines underemployment as people who have jobs but want extra work or more hours. 

A high underemployment rate often shows that available jobs are of low quality.

This reduction in underemployment, according to the agency, means 5.48 million of the 50.19 million employed individuals in December 2024 expressed a desire for either additional hours of work in their current jobs or for new jobs with longer hours.

By industry, the services sector continued to be the largest employer, accounting for 60.5 percent of the total employed population. The agriculture and industry sectors contributed 21.3 percent and 18.3 percent, respectively.

PSA said gains in employment were seen in specific sub-sectors, including:

• Transportation and Storage: An increase of 555 thousand workers.
• Construction: An increase of 263 thousand workers.
• Administrative and Support Service Activities: An increase of 223 thousand workers.
• Public Administration and Defense: An increase of 211 thousand workers.
• Human Health and Social Work Activities: An increase of 197 thousand workers.

On the other hand, the sectors that experienced the largest annual decreases in employment were:

• Agriculture and Forestry: A loss of 1.56 million workers.
• Manufacturing: A loss of 387 thousand workers.
• Other Service Activities: A loss of 166 thousand workers.
• Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles: A loss of 106 thousand workers.