According to the most recent Labor Force Survey report from the Philippine Statistics Authority (PSA) in July 2024, the nation’s employment rate was 95.3 percent, up from 95.1 percent of July 2023. There are currently 47.7 million Filipinos working, up from 49 million at the beginning of the employment period. The number of unemployed people was approximately 2.3 million compared to 2.2 million last July 2023, while the unemployment rate decreased from 4.9% in July 2023 to 4.7%. The Labor Force Participation Rate (LFPR) increased from 60% in July 2023 to 63.5%. The total population of 15 years old and older was reported at 78.8 million people. The total labor force for this year is at 50 million, who were either employed or jobless.

In June 2024, the LFPR was reported to be 51.90 million Filipinos aged 15 and over, who were either employed or jobless. In June 2023, there were 51.17 million people in the labor force who were 15 years of age or older; in May 2024, there were 50.97 million.

The estimated number of underemployed people, or those who wish to work longer hours at their current job or in a new position with longer hours, was 5.7 million, corresponding to an underemployment rate of 12.1%.

As of July 2024, the Cordillera Administrative Region (CAR) holds the highest employment rate in the Philippines, recorded at 97.7%. In contrast, the National Capital Region (NCR) has the highest unemployment rate at 6.5%. SOCCSKSARGEN stands out with the highest underemployment rate in the country, reaching 29.3%.