Unemployment in Philippines

Philippines Unemployment | Economic News & Forecasts

Philippines - Unemployment

The economy lost traction in the first quarter. The deceleration was partly due to notable slowdowns in government consumption and fixed investment growth, largely the consequence of the prolonged budget impasse which delayed spending. More worryingly, the external sector softened amid weak electronics exports. On a more positive note, private consumption gained steam, supported by ebbing price pressures and solid remittances. Turning to Q2, the manufacturing PMI dipped again in April. Nevertheless, despite the soft manufacturing sector, growth is likely to accelerate in the second quarter; in mid-April, President Duterte finally signed the 2019 budget into law, which should unleash pent-up spending. On the political front, Duterte appears to have secured a resounding victory in May’s midterm elections, which should provide policy continuity and allow him to continue with a major infrastructure push.

Philippines - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate7.1  6.8  6.3  5.5  5.7  

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Philippines Unemployment Chart


Philippines Unemployment
Note: Unemployment in % of active population.
Source: National Statistics Office.

Philippines Facts

ValueChangeDate
Bond Yield5.28-4.11 %Jun 14
Exchange Rate52.080.02 %Jun 14
Stock Market7,9900.66 %Jun 14

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