Philippines’ August jobless rate declines

The Philippines’ unemployment rate fell to 3.9% in August, reflecting stronger hiring momentum as the labor market recovered from midyear slack.

The number of jobless Filipinos fell to 2.03 million from 2.59 million in July and 2.07 million a year earlier, the Philippine Statistics Authority said on Wednesday.

The employment rate improved to 96.1% from 94.7% in July, with total employed persons rising to 50.1 million. The jobless rate was 4% a year earlier and 5.3% in July.

The labor force participation rate climbed to 65.1% from 60.7% in July, equivalent to 52.13 million Filipinos aged 15 and older either working or seeking work.

On average, employees worked 41 hours a week, up from 40.7 hours in August last year.

The service sector remained the country’s biggest employer, accounting for 61.5% of total jobs, followed by agriculture at 20.4% and industry at 18.1%. Wholesale and retail trade, agriculture and forestry, and construction were the top employing subsectors.

Underemployment eased to 10.7% from 14.8% in July, with 5.38 million workers saying they wanted more hours or an additional job. Of the underemployed workers in August, 62.4% worked less than 40 hours a week, while 37.6% worked 40 hours or more a week.

Youth employment also improved, with the employment rate among those aged 15 to 24 rising to 88.3% from 81.9% in July, the local statistics agency said.

Source: Business World

Fair incomes, safety nets, career progression urged for PHL workers

The Government needs to ensure that gig workers receive fair and transparent earnings to unlock the full potential of the gig economy, market research company Ipsos said.

Despite sharp swings in monthly pay, most Filipino gig workers remain upbeat about their prospects.

The findings come from Gig Life PH: Understanding the Realities and Preferences of Filipino Gig Workers, a new Ipsos Strategy3 study, which showed that many earn more without giving up full-time jobs, though monthly earnings fluctuate by 10 percent to more than 30 percent.

Alongside flexibility, workers said they want a safety net, with 64 percent prioritizing retirement planning and 58 percent seeking access to healthcare.

“The Philippine gig economy provides workers with a flexible and empowering source of income, presenting a dynamic avenue for economic growth,” Ipsos Strategy3 Principal Christine P. Dugay said at a briefing.

She said the government and gig platforms need to support such workers by ensuring fair and transparent earnings, investing in data systems, protecting workers, and offering skills development and career progression.

“(Workers) have to be provided breakdowns of earnings, bonuses, and deductions,” she added.

“There is really a need to standardize what we would call gig work principles,” she said, including defining base pay for gig workers.

“The government has to actually work with the gig platforms because they should see the pay structure … The government has to understand how they are defining base rates and what would be considered base pay,” she added.

She said that gig platforms can help by providing a detailed breakdown of earnings, bonuses, and deductions and adopting standardized definitions for base pay, search rates, and incentive schemes.

The Ipsos Gig Life PH study found that 64% of gig workers are actively planning for retirement, while 58% value access to healthcare.

“Given their preferences, we recommend there should actually be an improvement of social protection and retirement security for gig workers,” she said.

“We also are recommending that the government create benefits schemes. Gig workers want to be in control of their social protection; this is why you should allow them flexible app-based enrollments and contributions to enhance their social security,” she added.

Source: Business World

Philippine CEOs optimistic, investing in people and tech for growth

Chief executives in the Philippines remain optimistic about industry prospects and are ramping up investments in people and technology to drive growth, a recently conducted survey showed.

“CEOs in the Philippines see both the risks and opportunities that lie ahead, such as the rising digital economy, sustained consumer spending, robust banking system and lower inflation and interest rates, among others,” PwC Philippines Chairman Roderick Danao said in a statement accompanying the release of the 2025 CEO Survey.

Optimism for the next 12 months was said to be strong, with 83 percent of survey respondents confident about the outlook for their industries and 84 percent expecting revenue growth.

The upbeat sentiment was said to be due to the country’s solid macroeconomic fundamentals, including within-target inflation and a robust monetary policy and banking system, sustained consumer spending, lending growth and higher liquidity.

However, more than half of the CEOs (52 percent) raised fears that their companies would no longer be viable after 10 years if changes were not made. Inflation was tagged as a key risk by 94 percent, followed by macroeconomic volatility (93 percent).

Cyber risks are another major concern and were cited by 84 percent of the respondents.

Adapting to change

CEOs were said to be aware of the headwinds with digital transformation particularly high on the agenda: 68 percent said they had integrated artificial intelligence (AI) into strategies and plans and 60 percent claimed implementation had started.

Respondents also had high expectations for generative AI, with 89 percent saying it would improve products and services, and most noted the need to upskill workers to extend business viability.

Eighty-two percent said they were focused on upskilling, 78 percent said they were pushing forward with automation initiatives, and 63 percent claimed to be using advanced technologies.

Sixty-two percent said talent retention and skill shortages were their top concerns, while 51 percent pointed to resource constraints.

Forty-seven percent, meanwhile, tagged the pull between short-term pressures and long-term goals.

As part of adaptation measures, companies were said to be revamping their decision-making processes, with 45 percent claiming shorter timelines and more frequent reviews.

Consultations are also being expanded, with 64 percent drawing on diverse executive perspectives and 62 percent seeking outside views.

‘More agile’

“This year’s survey shows that leaders are being more agile to ensure better service, shorter lead times and sustained outcomes,” PwC Philippines partner Trissy Rogacion said in the statement.

“By accelerating decision-making processes and streamlining workflows, organizations are not only enhancing the customer experience but also maintaining the momentum needed for long-term growth and resilience.” This year’s survey, which was answered by nearly 200 CEOs, was conducted from July 22 to Aug. 25, 2025, with the majority of respondents being members of the Management Association of the Philippines.

Other findings of the poll were that infrastructure development (65 percent) and domestic consumption (62 percent) would be the primary drivers of economic growth over the next 12 months and that the government was doing well in terms of pushing for infrastructure (69 percent).

The state also scored high in terms of foreign relations (65 percent), managing inflation (70 percent) and managing interest rates (53 percent), but just 9 percent of the respondents said it was doing well against corruption.

A quarter (25 percent) expect global economic growth to slightly decline over the next 12 months while just 20 percent said their business was facing threats from US tariffs.

Thirty-five percent said they would be revisiting plans to enter a new industry in the year ahead, 28 percent said they would expand outside the Philippines, and 17 percent would consider selling a stake in existing businesses.

Source: Manila Times