By Chloe Mari A. Hufana, Reporter
PHILIPPINE UNEMPLOYMENT eased to three.1% in December amid a surge in hiring within the transport and storage sector, bringing the full-year common to a record-low of three.8%, in accordance with the statistics company.
Preliminary knowledge from the Philippine Statistics Authority’s (PSA) Labor Drive Survey confirmed the jobless charge in December was unchanged from the identical month in 2023, however barely decrease than 3.2% in November.
The variety of unemployed Filipinos elevated to 1.63 million in December, up from 1.6 million within the prior yr however barely decrease than 1.66 million in November.
December additionally noticed the bottom unemployment charge since April 2005, when the statistics company revised its definition of unemployed to Filipinos aged 15 years and older with out a job, obtainable for work and actively looking for one.
For 2024, Nationwide Statistician Claire Dennis S. Mapa stated the jobless charge averaged 3.8% which is equal to 1.94 million jobless Filipinos. This was decrease than the 4.4% jobless charge, representing 2.19 million jobless Filipinos, in 2023.
The complete-year unemployment charge in 2024 was additionally the bottom since 2005.
The modest drop in unemployment in December 2024 was attributed to a surge in hiring for transport and storage employees through the vacation season, Mr. Mapa stated, noting the sector recorded an extra 184,000 employees month on month.
12 months on yr, the sector gained 555,000 employees.
“Most of that is from passenger transport by street, and that is an impact of our vacation season,” Mr. Mapa stated in combined English and Filipino at a information briefing in Quezon Metropolis.
“We are able to observe development in airport shuttle providers, taxi operations, and passenger land transportation total. This means constructive motion within the sector. Moreover, we’ve seen a rise in the usage of buses for public transport,” he added.
In the meantime, job high quality worsened yr on yr because the underemployment charge slipped to 10.9% (5.48 million), from 11.9% (6.01 million) in December 2023. Month on month, the underemployment charge went up from 10.8% (5.35 million) in November.
This was additionally the bottom underemployment charge since April 2005 when the PSA redefined underemployment as people who’re employed however search extra jobs or work hours.
For 2024, the typical underemployment charge fell to 11.9% from 12.3% in 2023. This translated to five.83 million underemployed Filipinos final yr, decrease than 5.94 million in 2023, Mr. Mapa stated.
Labor Secretary Bienvenido E. Laguesma stated the December 2024 Labor Drive Survey confirmed the federal government’s efforts, with the assist of the non-public sector, are paying off and gaining floor.
“We’ll proceed to work in collaboration with the non-public sector in the direction of job creation to make sure a extra everlasting supply of earnings and respectable dwelling circumstances for our workforce,” he informed BusinessWorld in a Viber chat. “If there are extra jobs, entry to those alternatives can be open to and obtainable for employees, even to these within the casual sector.”
Nationwide Financial and Growth Authority Secretary Arsenio M. Balisacan stated in a press release that methods to strengthen the labor market are “essential to sustaining our financial momentum and offering larger incomes alternatives for Filipinos.”
“The federal government stays dedicated to advancing each supply- and demand-side measures that can foster a extra dynamic labor surroundings and meet the targets set within the Philippine Growth Plan 2023-2028,” he stated.
Finance Secretary Ralph G. Recto stated the federal government will proceed to push for initiatives that create high quality jobs for Filipinos.
“We’re focusing closely on bettering training, infrastructure, and human improvement to make sure that we construct a Filipino workforce outfitted with the instruments and alternatives they should compete on the worldwide stage,” Mr. Recto stated in a press release, emphasizing workforce upskilling.
EMPLOYMENT RATE
In the meantime, the PSA additionally reported that the employment charge barely improved to 96.9%, equal to 50.19 million employed Filipinos in December from 96.8% in November when there have been 49.54 million employed Filipinos.
The employment charge was unchanged from December 2023. Nonetheless, there have been barely extra employed Filipinos at 50.52 million in December 2023.
For 2024, the typical employment charge rose to 96.2%, from the 95.6% logged in 2023. That is equal to 48.85 million employed Filipinos in 2024, larger than the 2023 common of 48.18 million.
In the meantime, the labor power participation charge (LFPR) fell to 65.1% in December from 66.6% in December 2023. This represented a labor power of 51.81 million, decrease than 52.13 million in December 2023.
College of the Philippines College of Labor and Industrial Relations Assistant Professor Benjamin B. Velasco stated the modest decline in LFPR confirmed persistent challenges in job creation.
“Inhabitants will all the time be growing, so that may be a given. Inhabitants development drives consumption and in addition manufacturing, so it’s not a unfavorable issue itself although giant will increase in inhabitants do current a problem to coverage making, together with labor market governance,” he stated in a Fb Messenger chat.
“The issue of job creation can be bared within the vital lower in youth LFPR.”
The youth LFPR declined to 31.9% in December from 34.5% in December 2023. The youth employment charge additionally dropped to 90.9% in December from 91.8% within the yr prior.
SECTORAL GAINS AND LOSSES
PSA knowledge additionally confirmed agriculture and forestry misplaced 1.56 million employees yr on yr in December.
Mr. Mapa attributed the losses to the collection of typhoons that hit the nation within the fourth quarter, noting that about 557,000 of them had been paddy rice farmers.
Employees engaged in planting, transplanting and different associated actions misplaced 424,000 employees yr on yr in December. Hog farming misplaced 236,000 jobs as African Swine Fever (ASF) continued to have an effect on manufacturing.
Month on month, the agriculture and forestry sector noticed the best enhance as an extra 735,000 employees had been employed.
On the identical time, the sector overlaying wholesale and retail commerce, and restore of motor autos and bikes, recorded the best variety of job losses at 391,000 month on month in December.
Mr. Mapa stated 294,000 of these job losses got here from the retail gross sales sector that features stalls, markets, meals and drinks, and tobacco merchandise.
About 219,000 employees concerned in lodging and meals service actions additionally misplaced their jobs in December 2024, regardless of the surge in vacation actions.
The providers sector had probably the most variety of staff, contributing 60.5% to the entire workforce.
The agriculture and business sectors adopted, representing 21.3% and 18.3% of the entire variety of employed people, respectively.
WAGE AND SALARY WORKERS
Wage and wage laborers continued to account for the majority or 63.1% of employed Filipinos in December 2024, adopted by self-employed people with none paid staff (28.5%), unpaid household employees (6.8%) and employers in their very own family-operated farm or enterprise (1.6%).
Amongst wage and wage employees, these employed in non-public institutions accounted for 78.9%, whereas these employed in authorities or government-controlled companies represented 14.4%.
Wage and wage employees are people who find themselves paid for his or her work in non-public institutions, authorities, or their very own family-run enterprise, the PSA stated on its web site.
Federation of Free Employees President Jose Sonny G. Matula urged the federal government to lift wages to spice up employees’ buying energy and enhance demand for native items and providers.
“Opposite to employers’ rivalry, wage hikes assist our farmers, fisherfolk, and casual sector employees as a result of employees purchase their merchandise resulting from elevated buying energy,” he stated in a Viber chat.
Whereas the record-low unemployment charge for December 2024 is an effective factor, Mr. Matula stated it’s not shocking.
“Employment virtually all the time goes up due to the elevated buying energy of employees who’re customers, too. Employees doubled or tripled their incomes resulting from 13th month and Christmas or year-end bonuses,” he stated.
“However earlier than we escape the confetti, let’s not neglect: the standard of those jobs nonetheless leaves so much to be desired. Jobs generated had been temps.”
On Monday, the Home of Representatives authorized on second studying a invoice granting a P200 hike for minimal wage earners. The Senate authorized a counterpart invoice for P100 in February final yr.
