Unemployment Rate: Philippines
Philippines's unemployment rate is currently 3.9% as of 2026. # Philippines Unemployment Rate The Philippines' unemployment rate stands at 3.
Current (2026)
3.9%
+0.0% y/y
Peak (2004)
11.8%
Low (2024)
3.8%
Source
IMF World Economic Outlook
1985–2026 · 46 pts
Unemployment Rate — Philippines
1985 — 2026
Unemployment Rate — Philippines
Analysis# Philippines Unemployment Rate
The Philippines' unemployment rate stands at 3.9% in 2026, near its all-time low of 3.8% recorded in 2024. This represents a dramatic 64.9% decline since 1985, when the rate was substantially higher. The current level remains well below the devastating peak of 11.8% reached in 2004, reflecting decades of overall labor market improvement and economic development.
The 2020 pandemic caused a severe spike to 10.4%, the second-highest point in the dataset, but the recovery proved rapid and sustained. By 2024, the rate had plummeted to historic lows, with 2025 and 2026 projections holding steady around 3.8-3.9%. This trajectory suggests the Philippine labor market has achieved relative stability at historically strong employment levels, with no indication of significant deterioration through 2026.
Historical Data
46 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 3.7% | +0.00% |
| 2029 | 3.7% | -2.63% |
| 2028 | 3.8% | +0.00% |
| 2027 | 3.8% | -2.56% |
| 2026 | 3.9% | +0.00% |
| 2025 | 3.9% | +2.63% |
| 2024 | 3.8% | -13.64% |
| 2023 | 4.4% | -18.52% |
| 2022 | 5.4% | -30.77% |
| 2021 | 7.8% | -25.00% |
| 2020 | 10.4% | +103.92% |
| 2019 | 5.1% | -3.77% |
| 2018 | 5.3% | -7.02% |
| 2017 | 5.7% | +3.64% |
| 2016 | 5.5% | -12.70% |
| 2015 | 6.3% | -7.35% |
| 2014 | 6.8% | -4.23% |
| 2013 | 7.1% | +1.43% |
| 2012 | 7.0% | +0.00% |
| 2011 | 7.0% | -4.11% |
Show all 46 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 7.3% | -2.67% |
| 2009 | 7.5% | +1.35% |
| 2008 | 7.4% | +1.37% |
| 2007 | 7.3% | -8.75% |
| 2006 | 8.0% | -29.82% |
| 2005 | 11.4% | -3.39% |
| 2004 | 11.8% | +3.51% |
| 2003 | 11.4% | +0.00% |
| 2002 | 11.4% | +2.70% |
| 2001 | 11.1% | -0.89% |
| 2000 | 11.2% | +15.46% |
| 1999 | 9.7% | -3.96% |
| 1998 | 10.1% | +16.09% |
| 1997 | 8.7% | +2.35% |
| 1996 | 8.5% | -10.53% |
| 1995 | 9.5% | +0.00% |
| 1994 | 9.5% | +2.15% |
| 1993 | 9.3% | -5.10% |
| 1992 | 9.8% | -6.67% |
| 1991 | 10.5% | +25.00% |
| 1990 | 8.4% | -7.69% |
| 1989 | 9.1% | -3.19% |
| 1988 | 9.4% | -15.32% |
| 1987 | 11.1% | -5.13% |
| 1986 | 11.7% | +5.41% |
| 1985 | 11.1% | — |
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