FX.co ★ Philippines Jobless Rate Falls to 5.1%

The Philippines’ unemployment rate eased to 5.1% in February 2026, down from a more than three-year high of 5.8% in January. The number of unemployed persons declined to 2.66 million from 2.96 million a month earlier, while total employment increased to 49.43 million from 47.94 million in January.

The labor force participation rate was 63.8% in February 2026, slightly below the 64.5% recorded in February 2025 but higher than January 2026’s 62.3%.

The services sector remained the primary source of jobs, accounting for 63.5% of total employment, followed by agriculture at 18.8% and industry at 17.7%. The leading sub‑sectors in terms of employment were wholesale and retail trade; repair of motor vehicles and motorcycles; agriculture and forestry; and construction.

Wage and salary workers represented 63.8% of the workforce, the majority of whom were employed in private establishments. Average weekly hours worked stood at 40.9.

Despite the month-on-month improvement, the unemployment rate in February 2026 remained markedly higher than a year earlier, when it was 3.8%.