The Philippines' unemployment rate in April 2024 climbed to its highest level for that month since 2022, with the agriculture and retail sectors accounting for the most job losses, according to a report by the Manila Bulletin.
Data from the Philippine Statistics Authority showed the jobless rate rose significantly, with agriculture shedding the most jobs followed by retail trade. These sectors have faced pressure from rising costs and weak consumer demand.
Economists noted that the April figures underscore ongoing labor market fragility, particularly in rural areas dependent on farming and in the retail sector vulnerable to shifts in spending. The government is expected to roll out targeted interventions to address the rising unemployment.