Positive Shift in Philippine Employment: A Closer Look at September 2023 Data

The Philippine employment landscape witnessed a significant improvement in September 2023, as reported by the Social Weather Stations (SWS). The number of unemployed Filipinos dropped to 7.9 million, a notable decrease from 10.3 million in June and 18.6% in the same quarter the previous year. This decline in joblessness, now at 16.9%, is the lowest since December 2017’s 15.7%.

The SWS defines jobless adults as those who have either voluntarily left their jobs, are seeking employment for the first time, or have lost their jobs due to economic circumstances outside their control. The survey revealed a rise in labor force participation to 63.3%, translating to 46.5 million individuals, up from the previous quarter’s 61.6%.

Geographically, the decrease in unemployment was evident across all regions:

• Luzon showed a decrease to 20.8% from June’s 29.8%.
• Metro Manila’s unemployment rate fell to 19.2% from 24.3%.
• Mindanao and Visayas reported reductions to 12.4% and 12.2%, respectively.

Young adults and college graduates faced the highest unemployment rates, with those aged 18 to 24 at 34.4% and college graduates at 25.6%.

However, there exists a notable discrepancy between SWS’s joblessness rate and the Philippine Statistics Authority’s (PSA) unemployment rate. The PSA recorded 2.09 million jobless Filipinos in October, with an unemployment rate of 4.2%, reflecting different definitions of employment.

This survey, conducted from September 28 to October 1, 2023, through face-to-face interviews of 1,200 adults across various regions, presents an optimistic view of the Philippine job market, indicating a recovering economy and improved job opportunities.