Unemployment falls to 5.3 percent in August from 6 percent in July; 2.77 million Filipinos jobless
The PSA's August labor force survey shows unemployment at 5.3% (2.77 million people), down from 6.0% in July and 3.14 million, but above 3.9% a year earlier. The employment rate was 94.7% (49.79 million), participation 64%. Services account for 61.7% of jobs (Daily Tribune, GMA News). The figures rely on one detailed report, so check the PSA release.
A one-month improvement is welcome but July was a peak and the labor market is weaker than a year ago.
Job openings may be recovering from July's low, yet higher interest rates and prices could slow hiring again.
A sharp fall in a month suggests July was an outlier and hiring is recovering.
Unemployment remains well above last year, and the economy grew only 2.3 percent in the second quarter.
Do not over-read one month. Look at the September survey and whether wages keep pace with 7.2 percent inflation.
DailyDrop Philippines edition No. 4 · Morning · THU., OCT. 8, 2026