The decline in employment in November 2024 shows that hyped rapid economic growth is jobless. Labor force participation has also shrunk, likely including many Filipinos discouraged from actively seeking work due to the lack of decent job opportunities.
Most Filipinos lack savings and are so poor that they can’t afford to be unemployed. But because decent regular formal jobs are scarce, the overwhelming majority struggle with self-employment, informal work, or irregular jobs in informal establishments.
