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Business and Economic Update
Issue 01
UNEMPLOYMENT

Not everything is positive or rosy in the Philippines’ labor market of course. For one, it has the highest unemployment rate compared to its neighbors in the region. Compared to many European economies though, its unemployment incidence is mild.

Table 4. Unemployment rates, percent of labor force

Uemployment

Sources: 2012: IMF, WEO 2015,
2015: The Economist, May 30th 2015, Markets and Data.

One result of the relatively high unemployment situation in the Philippines is that many people turn to micro entrepreneurship. Average income and labor productivity in this activity is generally low, but they are the seeds and training ground by which people move up to small and medium size entrepreneurship, as direct entrepreneurs or suppliers and service providers to more established enterprises and businesses.

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