Unemployment rate in the Philippines 2018

Philippines: Unemployment rate from 2008 to 2018

by H. Plecher, last edited Aug 9, 2019
Unemployment rate in the Philippines 2018 In 2018, the unemployment rate in the Philippines was at approximately 2.52 percent and on a steady downward trend from 3.6 percent in 2014.
Souvenirs from overseas

The Philippines’ economy relies heavily on remittances from overseas, i.e. money sent home by Filipino emigrants and workers in other countries. In 2016 alone, approximately 30 billion U.S. dollars were received as remittances in the Philippines, and the amount seems to increase significantly every year. This makes the Philippines one of the leading countries worldwide when it comes to receiving remittances, only surpassed by India and China.

Visitors from overseas

The Philippines’ economy is stable, not only because of remittances, but also because of a flourishing services sector, which is now the main generator of GDP in the country; tourism and IT in particular contribute to economic growth. More than half of the Philippines workforce is employed in services.
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Philippines: Unemployment rate from 2008 to 2018

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