The employment rate in the Philippines increased to 96% in August from 65.6% during the same month last year, according to National Statistician Dennis Mapa.

In a briefing on Tuesday, Mapa reported that the results of the latest labour force survey indicated that the employment rate in August was higher than the 95.3% recorded in July.  

The number of employed Filipinos in August 2024 was estimated at 49.15 million, an increase from 48.07 million in August 2023 and 47.70 million in July 2024, Philippine News Agency reports.

The top five industries that saw the largest increases in employment included wholesale and retail trade (+1.13 million), public administration and defence (+678,000), accommodation and food service activities (+537,000), other service activities (+380,000), and transportation and storage (+342,000).  

Mapa added that the Labor Force Participation Rate (LFPR) in August was estimated at 64.8%, which translates to about 51.22 million Filipinos aged 15 and older who were either employed or unemployed, up from 50.29 million in August of the previous year.

“The story basically is we have more female workers joining the labour force,” Mapa said.

“Year-on-year between August 2023 and August 2024, about 1.03 million female workers joined the labour force and about 1.03 million were absorbed in the labour market, meaning they are employed. Most of them worked for more than 40 hours a week,” he added.

Furthermore, the unemployment rate decreased to 4.0% in August, down from 4.4% in August of the previous year and 4.7% in July of this year. 

The estimated number of unemployed Filipinos was 2.07 million, which is lower than the 2.22 million recorded in August 2023 and the 2.38 million in July of this year.

In addition, according to National Economic and Development Authority Secretary Arsenio Balisacan, ensuring sufficient investments in human capital and priority sectors is essential for achieving the transformation agenda set forth in the Philippine Development Plan 2023-2028.

According to Balisacan, the drafting of the Trabaho Para Sa Bayan (TPB) Plan 2025-2034 will commence next month, with the final version anticipated by the end of the year.