The unemployment rate increased once more in July 2023, reaching 4.8%.

According to National Statistician Dennis Mapa, the number of unemployed Filipinos fell by 329,000 from 2.6 million a year before in July 2022. The July reading was higher than 4.5 percent in June 2023.

However, it was lower than 5.2 percent in July 2022, which Mapa said was a better and more scientific comparison. The June statistic was an uptick from the 4.3 percent unemployment rate in May of this year. Furthermore, the fall in the number of unemployed was attributable in part to fewer Filipinos participating in the labor field – both jobholders and jobseekers.

Last July, there were 46.9 million Filipinos in the labor force, a 3.09 million decrease from the previous year's figure of 49.99 million.

In the 12-month period ending in July, the most significant industries contributing to job loss were wholesale and retail trade, administrative and support service activities, professional, scientific, and technical activities, information and communication, and manufacturing, while the most jobs were lost.