Unemployment Rate 2024 Philippines. The labor force participation rate (lfpr) in october 2023 was registered at 63.9 percent, translating to 49.89 million filipinos who were either employed or unemployed. Unemployment refers to the share of the labor force that is without work but available for and seeking employment.
The countryโs unemployment rate in march 2024 was estimated at 3.9 percent. This was lower than the recorded unemployment rate in march 2023 at 4.7 percent but was higher than the 3.5 percent estimate in february 2024.