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Unemployment rate in the Philippines 2020

In 2020, the unemployment rate in the Philippines was at approximately 2.16 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.

Philippines: Unemployment rate from 1999 to 2020

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Source

Release date

October 2020

Region

Philippines

Survey time period

1999 to 2020

Supplementary notes

Figures have been rounded.

All figures are modeled ILO estimates.

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Statistics on "The Philippines"

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