Manila Times
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Saturday, Jun 07, 2025
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Philippine Unemployment Increases as Trade Deficit Narrows in April 2025
An overview of rising unemployment rates and improving trade balances amid economic challenges in the Philippines.
The Philippine Statistics Authority (PSA) reported an increase in the national unemployment rate to 4.1% in April 2025, up from 3.9% in March.
This translates to 2.06 million jobless individuals, an increase from 1.93 million in March and 1.94 million in February.
The underemployment rate also rose to 14.6%, indicating that 7.09 million Filipinos sought additional work hours or jobs.
Employment figures for April stood at 48.67 million, corresponding to a 95.9% employment rate, down from 96.1% in March.
The labor force participation rate was registered at 63.7%, representing 50.74 million Filipinos.
Certain sectors experienced fluctuations in employment; notable increases were seen in administrative and support service activities (+394,000), public administration and defense (+262,000), and agriculture and forestry (+260,000).
Conversely, the manufacturing sector faced a significant decline, losing 410,000 jobs.
In terms of economic trade, the Philippines’ trade deficit narrowed by 26.1% year-on-year to $3.49 billion in April 2025. Total external trade was recorded at $16.99 billion, reflecting a 2% decrease compared to a year earlier.
Exports climbed by 7% to $6.75 billion, driven primarily by electronics, manufactured goods, and agricultural products.
In contrast, imports fell by 7.2% to $10.24 billion, notably in fuel, ores, and steel.
Electronics remained the leading export, comprising 50.5% of all outbound shipments worth $3.41 billion, while the largest import category was also electronics at $2.31 billion.
The United States was the top export destination, while China continued to be the largest supplier of imports to the Philippines.
Despite the challenges posed by external economic pressures, the industries of agriculture and services showed some resilience, with a commitment from government officials to pursue policies aimed at job creation and economic expansion.
The regional wage boards have been emphasized as critical in determining wage adjustments, as the House of Representatives has recently passed a bill advocating for a ₱200 daily minimum wage increase amidst concerns from business leaders regarding potential negative impacts on inflation and investment.
This translates to 2.06 million jobless individuals, an increase from 1.93 million in March and 1.94 million in February.
The underemployment rate also rose to 14.6%, indicating that 7.09 million Filipinos sought additional work hours or jobs.
Employment figures for April stood at 48.67 million, corresponding to a 95.9% employment rate, down from 96.1% in March.
The labor force participation rate was registered at 63.7%, representing 50.74 million Filipinos.
Certain sectors experienced fluctuations in employment; notable increases were seen in administrative and support service activities (+394,000), public administration and defense (+262,000), and agriculture and forestry (+260,000).
Conversely, the manufacturing sector faced a significant decline, losing 410,000 jobs.
In terms of economic trade, the Philippines’ trade deficit narrowed by 26.1% year-on-year to $3.49 billion in April 2025. Total external trade was recorded at $16.99 billion, reflecting a 2% decrease compared to a year earlier.
Exports climbed by 7% to $6.75 billion, driven primarily by electronics, manufactured goods, and agricultural products.
In contrast, imports fell by 7.2% to $10.24 billion, notably in fuel, ores, and steel.
Electronics remained the leading export, comprising 50.5% of all outbound shipments worth $3.41 billion, while the largest import category was also electronics at $2.31 billion.
The United States was the top export destination, while China continued to be the largest supplier of imports to the Philippines.
Despite the challenges posed by external economic pressures, the industries of agriculture and services showed some resilience, with a commitment from government officials to pursue policies aimed at job creation and economic expansion.
The regional wage boards have been emphasized as critical in determining wage adjustments, as the House of Representatives has recently passed a bill advocating for a ₱200 daily minimum wage increase amidst concerns from business leaders regarding potential negative impacts on inflation and investment.
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