employment – Page 3 – Author Carlo Carrasco

S&P Global Ratings Says Philippine Economy Will Grow Only 5.6% This Year

October 3, 2025September 24, 2025carlocarrasco

2025 continues to look rough for the Philippines. A lot of people are angry over government corruption and the flood control projects scandal investigation is only adding fuel to the fire. When it comes to economic growth, S&P Global Ratings says the economy of the Philippines will grow by only 5.6% this year, according to a Philippine Star news report.

To put things in perspective, posted below is an excerpt from the Philippine Star news report. Some parts in boldface…

S&P Global Ratings has trimmed its growth forecast for the Philippines to 5.6 percent this year from its earlier 5.9 percent estimate, citing subdued private consumption and investment alongside persistent global uncertainties.

The downgrade reflects weaker-than-expected momentum in the first half, when Philippine gross domestic product (GDP) grew by 5.4 percent. This was faster than many economies in Asia, but still below trend and short of expectations.

“Private consumption growth, investment and household confidence are still relatively subdued,” S&P economist Vince Conti told The STAR.

“We expect that both global and domestic uncertainty would continue to weigh on investment growth in the near term,” Conti said.

S&P’s latest projections show the country’s GDP growth will hit the government’s 5.5 to 6.5 percent target for 2025.

The credit watcher also sees growth picking up to 5.8 percent in 2026, though this remains below the government’s more ambitious six to seven percent goal for next year.

Conti noted, however, that the country’s reliance on external demand comes more from services rather than goods trade, which provides a degree of resilience against heightened global trade frictions.

“This will partially mitigate the impact of the elevated trade tensions,” he said. “On the positive side, with inflation low and likely to remain under control in the next few years, the Bangko Sentral ng Pilipinas (BSP) has room to continue its easing path to support growth.”

S&P expects Philippine inflation to average 1.8 percent in 2025, sharply down from 3.2 percent last year, before rising moderately to three percent in 2026 and 3.3 percent in 2027.

The credit watcher is penciling in around 100 basis points of further policy rate cuts by the BSP between now and end-2026, which could help shore up domestic activity.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippines does not have enough momentum to achieve 6% growth this year? Do you think that any rise of inflation will hamper economic growth?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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IBPAP Bullish On Growth Of Global Capability Centers In The Philippines

October 2, 2025September 24, 2025carlocarrasco

As far as the information technology and business process management (IT-BPM) industry of the Philippines is concerned, there is still room for growth in the near future as the country could become the next hot spot for global capacity centers (GCCs), according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE PHILIPPINE information technology and business process management (IT-BPM) industry is still bullish on growth, as it expects to generate $42 billion in export revenues and increase headcount to 1.97 million in 2026, an industry group said.

The Philippines is also aiming to become the next hub for global capability centers (GCC), as it has seen an uptick in interest from multinational companies, the group added.

IT & Business Process Outsourcing Association of the Philippines (IBPAP) President and Chief Executive Officer Jonathan R. Madrid said the industry has so far created 450,000 new jobs and $10.5 billion in revenue since the creation of the industry roadmap in 2022.

“Now, for 2025, that includes 80,000 new jobs and $2 billion in incremental revenue. That is a growth of 4% and 5.3%, respectively,” he said at the International IT-BPM Summit on Tuesday. “By 2026, we project to reach $42 billion in revenue and close to a total of two million jobs for Filipinos.”

The expected jobs and revenues for 2026 are aligned with the baseline projections indicated in the IT-BPM Roadmap 2028. Mr. Madrid said the industry’s growth will still be driven by core segments — banking, financial services, and healthcare.

While the Philippines remains strong in contact centers, he noted faster growth coming from GCCs. “(There’s) a slightly higher growth rate from GCCs. Coming from a lower base, you tend to see more growth from that sector,” he said.

GCCs are offshore units established by multinational corporations to provide specialized services such as finance, IT and customer support to their global operations.

Mr. Madrid said he sees increased interest in setting up GCCs in the Philippines from prospective clients in the US, Australia and Europe.

Globally, GCCs are reshaping the IT-BPM industry, with its market expected to grow to $155 billion by 2027.

To date, there are 170 GCCs in the Philippines, growing by around 10 each year, but India continues to dominate with its 2,000 GCCs.

“We know that India dominates as the world’s GCC hub, showing how GCCs have evolved. They are no longer cost centers but strategic engines of innovation and transformation,” Mr. Madrid said.

“I think the Philippines should aspire to do the same. We have the talent, we have the scale, the cost efficiency, and the ecosystem maturity to become the next global GCC hub,” he added.

LEGISLATION NEEDED –IBPAP Chief Operating Officer Celeste B. Ilagan said more needs to be done on the policy front to support the growth of GCCs in the Philippines.

“GCCs have different needs compared with the traditional BPM providers,” she said, adding that the group wants Congress to pass legislation to help attract more GCCs into the country.

In particular, she said that the industry needs a law that is similar to the Regional Operating Headquarters (ROHQ) law. However, this move was “abandoned” in favor of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, she added.

“We know that other countries have this international business services law that they are already implementing so that they can get more GCCs to their country. So, we are trying to work along those lines as well,” she added.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the Philippines will be able to act fast to attract more GCCs in the near future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Deadline Of Registration For Trustmark Officially Moved To December 31, 2025

September 29, 2025September 20, 2025carlocarrasco

Small businesses all over the Philippines now have extra time to get themselves registered for the E-Commerce Philippine Trustmark as the Department of Trade and Industry (DTI) officially extended the deadline all the way to December 31, 2025, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Department of Trade and Industry (DTI) has extended the Sept. 30 deadline for registration for the E-Commerce Philippine Trustmark to Dec. 31 to allow more small businesses to get the badge.

“The Trustmark is not a regulation to burden businesses but to serve as a tool that shields legitimate enterprises from scammers who undermine consumer confidence. Our aim is to make it simpler for consumers to identify and trust legitimate sellers, so entrepreneurs can focus on what truly matters — growing their business,” DTI Secretary Cristina Roque said in a statement Friday.

In a briefing earlier in the day, Roque said major players such as TikTok, Lazada and Shopee, already have their badges and more are expected to secure theirs as the deadline nears.

“Kasi alam mo naman sometimes sa ganito (Because you know sometimes, in things like this), they’re really waiting for the last minute or they’re still hoping that we can actually pull back on this Trustmark. Kasi ginagawa nila na issue (Because they’re making an issue of it) or whatnot. But we stand firm that we really need to have the Trustmark in the products that are being sold,” she said.

As of Sept. 19, a total of 10,057 business have submitted their applications to secure the Trustmark, DTI E-Commerce Bureau Officer-in-Charge Eryl Royce Nagtalon said during the briefing.

Nagtalon estimated registered micro, small, and medium enterprises (MSMEs) in the country at 1.2 million to 1.3 million, but less than half have listings on various online platforms.

He explained that while there are about 500,000 MSMEs that have shifted to e-commerce, the number might balloon to about 900,000 as some businesses offer their products not just on a single platform but on several online shopping sites.

Asked if they expect all registered MSMEs to register for the Trustmark, Nagtalon answered yes, saying it is “very good for the e-commerce system.”

“It’s good because it means the competition is very healthy, the e-commerce is very healthy,” he said.

Registration for the Trustmark is mandated under Republic Act 11967, otherwise known as the Internet Transactions Act of 2023, and the DTI’s Department Administrative Order 25-07. Applicants need to pay the PHP1,000 annual application fee, PHP100 web administration fee, and PHP30 documentary stamp tax.

Let me end this post by asking you readers: What is your reaction to the recent developments? Were you surprised to see the Philippines’ startups attracting much less equity funding from global investors? What do you think the government should do to convince global investors to invest more in startups here in the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Funding For Philippine Startups Falls 55% To $86.4M In First Half of 2025

September 28, 2025September 18, 2025carlocarrasco

Startups here in the Philippines secured $86.4 million in equity funding during the first half of this year which translates to a very sharp drop of 55% when compared to a year earlier, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

PHILIPPINE startups secured $86.4 million in equity funding in the first half of 2025, down 55% from a year earlier and lagging most of its Southeast Asian neighbors, according to a report by Kickstart Ventures, Inc., the corporate venture capital arm of Globe Telecom, Inc., and Singapore-based business news platform DealStreetAsia.

The Philippines raised about P4.91 billion from 15 disclosed deals in the six-month period, lower than the P10.86 billion ($191 million) recorded in the same period last year.

By deal value, the country trailed Singapore ($1.21 billion), Vietnam ($275 million), and Malaysia ($196 million). It only surpassed Indonesia ($78 million) and Thailand ($10 million), while Cambodia did not disclose figures.

Across Southeast Asia, startup equity investment fell by 20.7% year on year to $1.85 billion, the lowest in six years.

Joan Yao, general partner at Kickstart Ventures, said funding deals slowed after digital activity peaked in 2021 and 2022 at the height of coronavirus lockdowns.

“I think to some extent, as the effects of COVID died down… [digital] activity became more balanced between online and offline,” Ms. Yao said during a media briefing on Wednesday.

Philippine startups had raised $456 million and $481 million in the first halves of 2021 and 2022, respectively, before declining sharply as global investors scaled back.

Ms. Yao cited the tight monetary policy in the United States, when the US Federal Reserve hiked interest rates from March 2022 through July 2023 to curb inflation.

“A lot of the global investors that were coming to invest in the Philippine market or Southeast Asia pulled back a little bit from their investment activities because of the higher cost of capital,” she said.

The report said investors have become more selective, favoring companies with stronger governance and clearer paths to profitability.

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Has The Highest Debt Risk In Asia According To New Economic Study

September 27, 2025September 18, 2025carlocarrasco

With its recent economic study, Oxford Economics declared that the Philippines has the highest debt risk among its Asian neighbors and the biggest contributor to the risk is the nation’s limited internal policy space, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Constrained fiscal and monetary policy space, along with increasing reliance on foreign debt, has placed the Philippines at the highest sovereign risk, or the greatest risk of failing to meet its debt obligations, among its Asian peers.

According to a Sept. 10 report by the think tank Oxford Economics, the Philippines recorded the highest sovereign risk score among 12 Asian economies, at 4.5 out of 10. The biggest contributor to this risk is limited internal policy space, referring to the country’s relatively narrow fiscal and monetary flexibility compared with its peers.

The second-largest factors are external imbalances—measured by current account and trade deficits—along with the size of the economy, and institutional risks. Other contributors include political risks, the business environment, vulnerabilities in the banking sector, and corporate debt.

India ranked second in sovereign risk, followed by China, Vietnam, Malaysia, Thailand, and Indonesia. Meanwhile, Japan, Singapore, South Korea, Hong Kong, and Taiwan were assessed to have the lowest risk levels.

Sovereign risk refers to the possibility that a government may default on its debt by failing to meet interest or principal payments.

“On the fiscal front, the stubborn bias towards fiscal conservatism is likely to persist, following the broad unwinding of pandemic-era discretionary support,” Oxford Economics lead economist Alexandra Hermann said.

However, given that “around half of the region’s economies are likely to fall short of their official growth estimates this year, and the remainder only just meeting stated targets, the political economy of growth underperformance could tilt authorities towards further incremental easing going into 2026.”

For the Philippines, the government is targeting a growth rate of 5.5 to 6.5 percent for 2025—a downscaled version of the more ambitious goal of six to eight percent previously.

While governments in Asia, including the Philippines, could implement measures to soften the impact of weaker exports, the think tank noted that economic growth would still be slower than normal. Philippine gross domestic product (GDP) growth averaged 5.4 percent in the first half of the year.

“On the monetary side, most central banks have room to cut further as real rates are still elevated compared to pre-pandemic norms, despite pre-emptive cuts this year particularly in emerging Asia,” Hermann said.

To recall, the Bangko Sentral ng Pilipinas (BSP) aggressively hiked lending rates to as high as 6.5 percent in 2024 to tame raging increases in consumer prices brought about by the Covid-19 pandemic.

Hermann expects the Philippine central bank alongside other Southeast Asian central banks to further reduce key borrowing costs by as much as three quarters of a point by early next year, similar to what they did previously during economic slowdowns.

“We anticipate an additional 25-75 bps [basis points] of rate reductions across India, Indonesia, the Philippines, and Thailand, completing an easing cycle by early 2026 that is broadly consistent in scale with prior non-recessionary slowdowns,” Hermann said.

Should the BSP reduce the key policy rate by up to 75 bps though the first half of 2026, the current five percent could be brought down to 4.25 percent. For this year alone, the BSP has so far lowered rates by a cumulative 75 bps, citing still subdued inflation and risks to slower growth.

In another Sept. 10 report of the think tank, the BSP and other central banks are seen to be “hawkish despite low inflation.” BSP Governor Eli M. Remolona Jr. earlier signaled a still accommodative stance but now less dovish.

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think the Philippines will be able to reduce its sovereign risk? What do you think should be done about the debt risk the country has? Do you think the high debt risk could turn off foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Secures Investments Worth Over P50 Billion From Japan

September 24, 2025September 15, 2025carlocarrasco

Japanese business entities confirmed they will be investing more than P50 billion in the Philippines following the recent meetings with and presentations by a Filipino delegation composed of government and economic officials, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Philippine delegation secured around PHP51 billion worth of investments during its trip to Osaka, Japan, last week, according to Department of Trade and Industry (DTI) Secretary Cristina Roque.

The bulk of the investments, amounting to PHP34 billion, is from the operator of the world’s largest karaoke chain, Koshidaka Holdings Co., Ltd., which intends to open 300 outlets over the next 10 years.

In a press release Monday, Roque said this particular investment is projected to generate over 1,500 direct jobs and support thousands through construction and supply-chain activities.

Another conglomerate, Marubeni Corporation, committed PHP15-billion investments for real estate, financial technology, healthcare, and afforestation.

Sojitz Corporation, a general trading corporation, will also invest PHP2 billion to PHP3 billion in a property developer to attract firms that are into artificial intelligence, semiconductor design, software, and healthcare, and expressed interest in aviation-related projects.

Roque said Mitsui & Co., a major Japanese trading company, will expand its existing investment in the Philippines after it reaffirmed its partnership with Metro Pacific Investments Corp. and Steel Asia for a steel recycling entity targeted to support decarbonization bid.

“These commitments in green energy, smart housing, healthcare, and creative services highlight the strength of our partnership with Japan. DTI and the Economic Team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the country’s shift to a green, digital, and broad-based economy,” she said.

“These investments are a testament to President Ferdinand R. Marcos Jr.’s vision for an agile, innovation-driven economy that welcomes partnerships and delivers inclusive growth.”

Let me end this post by asking you readers: What is your reaction to the recent developments? Are you delighted that the Philippines secured P51 billion worth of investments from Japanese business entities? Do you think this will help the Philippines attract more foreign investments over the next six months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Mandatory Trustmark for E-Commerce in the Philippines

September 21, 2025September 12, 2025carlocarrasco

Business in the Philippines with established presence online will be required to get registered for E-Commerce Philippine Trustmark (Trustmark) as the Department of Trade and Industry (DTI) announced that digital verification system for e-commerce will be mandatory, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The digital verification system in e-commerce to ensure reliability of online transactions will no longer be voluntary and instead now mandated for every merchant and platform, according to the Department of Trade and Industry (DTI).

The DTI launched the E-Commerce Philippine Trustmark to serve as a digital badge issued to online businesses that comply with fair e-commerce practices.

In July, the department said the trustmark was only “voluntary,” with merchants only “encouraged to apply to build consumer trust.”

The trustmark is designed to help consumers identify legitimate online merchants, thereby safeguarding them from unfair trade practices and threats of scams and other fraudulent activities.

Under Department Administrative Order (DAO) No. 25-12, the DTI said the trustmark will now be mandatory and also serve as the permit for e-commerce merchants and online platforms to use the internet for conducting their business.

“Issuance of the trustmark shall signify that the products, goods, or services sold online by the holder comply with applicable standards and good e-commerce practices,” the DTI said in the order.

The DTI, headed by Secretary Cristina Roque, said the mandatory registration is a direct response to the recent surge in consumer concerns. Between January and August, the agency reported over 13,000 complaints related to online transactions.

As indicated under DAO No. 25-12, all online merchants, e-retailers, e-marketplaces, or digital platforms availing of the Philippine market over the internet shall apply for and obtain the (Trustmark) by Sept. 30

The DTI said this is to ensure that the merchant or platform is permitted to “use the internet for conducting e-commerce.”

While the order did not explicitly detail potential violations for not having a trustmark, it noted that those who have submitted an application on or before Sept. 30 must clearly state on their page that their trustmark is still pending evaluation and approval.

To apply for the trustmark, interested applicants must submit an application form accompanied by a sworn undertaking to comply with all applicable laws, rules, and regulations.

E-commerce merchants must meet key regulatory standards, including full business disclosure, protection of consumer data, and an internal redress mechanism to address consumer complaints.

As embodied under the order, the DTI emphasized that Trustmark does not exempt the holder from compliance with other applicable laws or regulations.

Let me end this post by asking you readers: What is your reaction to the recent developments? If you are operating a local business with presence online, do you think the mandatory registration for the Trustmark is hassle?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Deadline For E-Commerce Trustmark Registration In The Philippines Set On September 30, 2025

September 20, 2025September 11, 2025carlocarrasco

Here in the Philippines, businesses that have established their presence online are supposed to get themselves registered for the E-Commerce Philippine Trustmark (Trustmark) and they have until September 30, 2025, to do it, according to a news article by Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Businesses with online presence are given until Sept. 30, 2025 to register for the E-Commerce Philippine Trustmark (Trustmark), a move aimed to address consumer concerns, the Department of Trade and Industry said Thursday.

Online merchants are mandated by the DTI, in a Department Administrative Order, to register for the Trustmark to increase consumers’ confidence on the electric commerce (e-commerce) space and in compliance to Republic Act 11967, otherwise known as the Internet Transactions Act of 2023.

“The mandatory registration is also a direct response to the surge in consumer concerns, with DTI recording over 13,000 complaints related to online transactions from January to August 2025,” DTI said in a press release Thursday.

Under the Internet Transactions Act of 2023, consumers may file damage claims against the erring online businesses before the court or the DTI. Penalties have been set, with the third and subsequent violations penalized PHP1 million.

DTI said it has already issued digital badges to several major entities that include Shopee Philippines, Inc. (Shopee), Bytedance Philippines Inc. (TikTok Shop), Lalamove Philippines, Inc. (Lalamove), and LG Electronics Philippines, Inc. (LG).

The others are Asahi Electrical Manufacturing Corporation (Asahi), Cherenz Global Mfg., Inc. (TOUGHMAMA), Concepcion Midea, Inc. (Midea), Concepcion Carrier Air Conditioning Company (Carrier), First Digital Finance Corporation (Billease), Mailtag Ortigas Corporation (DHL Express), Pan-Eurasia Sales Marketing Corporation (Dowell, Edamama and Tefal), QuadX Inc. (Gogo Xpress and ShippingCart), and Tosot Philippines Corporation (Tosot).

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think Trustmark will is good for both the legitimacy of businesses as well as the safety of consumers? Do you own a business with online presence?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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HSBC Says Philippines Should Focus On Strengthening Services Sector

September 18, 2025September 10, 2025carlocarrasco

As far as HSBC is concerned, the Philippines would be better off strengthening its services sector instead of playing catch up with manufacturing, according to a business article published by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the business article of Manila Bulletin. Some parts in boldface…

The Philippines should leverage its services sector to stand out in the global investment landscape, as competition with manufacturing-led economies is well out of reach, according to an HSBC economist.

The country has been lagging behind its peers in Southeast Asia in terms of attracting foreign investments.

Last year, the Philippines secured the sixth spot in the region, trailing behind Singapore, Indonesia, Vietnam, Malaysia, and Thailand, according to the report from the United Nations Conference on Trade and Development (UNCTAD).

This trend is expected to continue this year amid uncertainties in global trade and especially due to the country’s relatively low manufacturing activity.

HSBC Asia Economics Associate Director Ines Lam said the limited scale of the manufacturing sector in the Philippines hinders its ability to draw foreign capital.

Lam explained that attempting to be competitive in manufacturing at this late stage could ultimately be ineffective and counter to the government’s efforts to secure investments.

“Everyone wants to get a piece of the global supply chain. Everyone wants to be a supplier to Apple. But for the Philippines, I think the Philippines’ unique value proposition is its people and soft skills,” she said during the 23rd International CEO Conference hosted by the Management Association of the Philippines (MAP).

Instead of trying to catch up in manufacturing, Lam said the country could instead shift its focus to strengthening its services sector, in which it has an advantage compared to regional partners.

The economist said upskilling the country’s talented pool of workers is a critical component in boosting the sector. She noted that the educational proficiency and English expertise of Filipino workers are the top qualities sought by global employers and investors.

“I’m not saying that manufacturing is not important, but because the Philippines has already found its advantage, I think it’s important that the Philippines does not lose this,” said Lam.

“You provide something new and you improve your offerings in terms of BPO (business process outsourcing) and exports of services. Then, that will help the Philippines to stand out in this world,” she added.

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you agree with HSBC’s economic opinion about the Philippines? Do you think the Philippines should focus more on strengthening the services sector instead of manufacturing? What do you think makes the Philippines not so good at manufacturing when compared with its Asian neighbors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Unemployment Rate Hits 5.3% in July 2025

September 17, 2025September 10, 2025carlocarrasco

As controversy about flood control projects continues to dominate the news cycles, more Filipinos reported themselves as unemployed this past July as the unemployment rate jumped to 5.3%, according to a GMA Network business news report.

To put things in perspective, posted below is an excerpt from the business news report of GMA. Some parts in boldface…

The number of Filipinos without jobs or livelihoods increased in July 2025 due to weather disturbances which affected various sectors of the labor market during the period, according to the results of the Philippine Statistics Authority’s latest Labor Force Survey.

At a press briefing on Wednesday, PSA chief and National Statistician Claire Dennis Mapa reported that unemployed persons, ages 15 and above, rose to 2.59 million from 1.95 million in June 2025. This was also higher than the 2.38 million jobless in July 2024.

As a percentage of 48.64 million participants in the labor force who are actively looking for labor opportunities during the period, the number of jobless persons translated to an unemployment rate of 5.3%, up from 3.7% month-on-month.

This means 53 in 1,000 individuals do not have jobs or livelihoods during the period. This was also the highest unemployment since August 2022’s 5.3%.

Labor force participation in July 2025 declined from 52.42 million in June 2025 and 50.06 million in July 2024.

Likewise, employed persons, or those with jobs and livelihoods, during the period contracted to 46.05 million from 50.47 million in June 2025 and 47.68 million in July 2024.

As a percentage of labor force participants, the employment rate stood at 94.7%, lower than the 96.3% seen in June 2025 and 95.3% in July 2024.

Mapa attributed the increase in unemployed persons and decreases in both employed and labor force participation to the series of storms which hit the country during the month.

“Una talaga ang nangyari dito sa July round is first tinamaan ang ating bansa, maraming areas ng typhoons. Ito talaga ‘yung nakita namin na main reason kung bakit bumababa ang labor force participation at employment na rin,” the PSA chief said.

(First, what we saw during the July round is that many areas of the country were hit by typhoons. This was really the main reason why the labor force participation and employment numbers declined.)

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think the unemployment rate of the Philippines will remain above 5% until the end of the year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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