2.5 million Filipinos were jobless in May as unemployment edged up

Unemployment rose to 4.8% as more Filipinos entered the workforce, even as businesses continued hiring across key industries.

Around 2.5 million Filipinos were without jobs in May as unemployment edged up from the previous month, even as more people entered the workforce in search of employment.

Data from the Philippine Statistics Authority showed the unemployment rate reached 4.8%, equivalent to 2.5 million individuals, up from 4.7% or 2.41 million in April. At the same time, the labor force grew to 52.13 million people, with the participation rate climbing to 63.8% from 62.7% a month earlier, indicating that more Filipinos were actively looking for work.

The country counted 49.63 million employed Filipinos in May, although the employment rate eased to 95.2% from 96.1% a year earlier. The services sector continued to employ the biggest share of workers, while administrative and support services, construction, healthcare, mining, fishing and aquaculture recorded the largest employment gains.

The latest figures suggest businesses continue to hire, but not quickly enough to absorb everyone joining the labor market. Employers are adding jobs, yet demand for work continues to outpace available opportunities.

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