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Questions and Answers
What was the unemployment rate in the Philippines in June 2024?
What was the unemployment rate in the Philippines in June 2024?
- 4.2%
- 5.5%
- 3.1% (correct)
- 6.0%
Which sector experienced the highest growth in employment according to the data?
Which sector experienced the highest growth in employment according to the data?
- Real Estate
- Education
- Agriculture
- Construction (correct)
By how much did the count of unemployed persons decrease from the previous data period?
By how much did the count of unemployed persons decrease from the previous data period?
- 1.6 million (correct)
- 1.2 million
- 3.1 million
- 2.0 million
What was the labor force participation rate in June 2024?
What was the labor force participation rate in June 2024?
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In which sectors did employment decline?
In which sectors did employment decline?
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Study Notes
Labor Force Overview
- Labor Force includes both full-time and part-time workers aged 16 and older.
- Philippines experienced a significant drop in unemployment rate to 3.1% in June 2024, marking the lowest since December 2023.
Unemployment and Employment Statistics
- Unemployed persons decreased by 1.6 million.
- Total number of employed individuals rose to 50.28 million.
- Labor force participation rate reached 66.0% in June 2024.
Employment Growth Sectors
- Highest employment growth occurred in:
- Construction
- Wholesale and retail trade
- Accommodation and food services
- Manufacturing
Sectors with Employment Decline
- Notable declines in employment observed in:
- Agriculture
- Forestry
- Fishing and aquaculture
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