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Saturday, March 14, 2026 Vol. 21 No. 153
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JOBLESS RATE HITS 5.8%, HIGHEST SINCE JUNE ’22 5.8% T By Justine Xyrah Garcia
HE Philippines may be inching toward a period of “jobless growth” as weakening job creation coincides with external shocks spilling into the domestic economy. On Friday, the Philippine Statistics Authority (PSA) reported that 2.96 million Filipinos were unemployed, translating to an unemployment rate of 5.8 percent. This was 790,000 higher compared with the 2.17 million unemployed in the same period last year, and up by 413,000 from 2.54 million in October 2025. The January 2026 rate was also the highest since June 2022, when unemployment reached 6.03 percent. Former Socioeconomic Planning Secretary Dante B. Canlas said whether the country enters a jobless growth phase will depend
“We've actually had job-poor and jobdegrading growth for decades—which is why poverty incidence has stayed high despite reportedly high growth.” — Jose Enrique A. Africa, executive director of IBON Foundation, warning that the Philippines risks slipping into jobless or even job-losing growth if employment cuts continue.
UNEMPLOYMENT RATE
Equivalent to 2.96 million Filipinos without jobs in January 2026, the highest since June 2022, according to the Philippine Statistics Authority. The figure is 790,000 higher than a year earlier, raising concerns that economic growth may not be generating enough employment.
largely on how global risks—particularly the Middle East crisis and oil price shocks—play out and feed into domestic growth. Jobless growth, as defined by the Philippine Institute for Development Studies (PIDS), is “economic growth without expanding employment opportunities or without reduction in joblessness.” “It depends on whether the oil price shocks persist and will
usher in a recession, which means no growth. The oil price shocks just started and we can’t say yet if they imply neither real [gross domestic product] growth nor job growth in 2026,” Canlas told the BusinessMirror. Still, he noted early signs that job creation is losing momentum. According to Deputy National Statistician Divina Grace L. Del Prado, the rise in unemployment was largely driven by more individuals actively seeking work but unable to find jobs. PSA data showed that 306,000 more individuals year-on-year were looking for work but could not find employment. Quarter-on-quarter, the number of jobseekers without work increased by 242,000. Another 91,000 individuals were classified as discouraged workers—those who had stopped looking for jobs because they believed none were available. Canlas said the trend is consistent with the economy’s slower growth at the end of 2025, when
PHL INCLUSION IN U.S. FORCED LABOR PROBE ‘DEFENSIBLE’—TRADE OFFICIAL By Bless Aubrey Ogerio
T
HE Philippines’ inclusion in a labor-related investigation by the Office of the United States Trade Representative (USTR) is “defensible,” a Philippine trade official said, expressing confidence that Manila can explain its labor practices once consultations begin. Trade Undersecretary and Board of Investments managing head Ceferino Rodolfo on Friday said the government is prepared to engage the US following the investigation launched under Section 301 of the US Trade Act of 1974. The probe will examine whether the acts, policies, or practices of these economies, particularly those related to the failure to impose or effectively enforce bans on the importation of goods produced with forced labor, are unreasonable or discriminatory and whether they burden or restrict US commerce. “I’m very confident that if we’re given the opportunity
See “Jobless,” A2
Asean ministers call for immediate halt to hostilities after emergency meeting
“I’m very confident that if we’re given the opportunity to provide more information and greater interaction and engagement with the US side, we will be able to fully explain why we should not be part of the investigations under Section 301 on labor practices.” — Trade Undersecretary Ceferino Rodolfo
to provide more information and greater interaction and engagement with the US side, we will be able to fully explain why we should not be part of the investigations under Section 301 on labor practices,” Rodolfo told reporters on the sidelines of a forum hosted by the Stratbase Institute in Makati City. See “USTR,” A2
Asean pushes back vs protectionism at WTO
THE headquarters of the World Trade Organization in Geneva, Switzerland. Economic ministers of the Association of Southeast Asian Nations reaffirmed support for an open, rules-based global trading system, urging the WTO to resist protectionist policies and safeguard predictable global commerce amid rising geopolitical tensions. OLRAT | DREAMSTIME.COM
2.4
By Bless Aubrey Ogerio
E
By Malou TalosigBartolome
A
SEAN must bolster coordination and informationsharing among foreign ministries as their embassies and consulates work to evacuate nationals trapped by escalating missile strikes involving the United States, Israel, and Iran. This priority was highlighted during a virtual emergency meeting of Asean Foreign Ministers and senior officials on Friday. The session was chaired by Philippine Foreign Secretary Ma. Theresa Lazaro, representing the current Asean chair. “On the protection of Asean nationals, which is very important to the Philippines, we underscored the importance of timely and enhanced coordination and information sharing,” Lazaro said in a
press conference after the meeting. Ministers also agreed to “strengthen cooperation and work more closely to respond more rapidly to the challenges impacting our region,” specifically addressing the energy crisis that a prolonged conflict could trigger.
Joint Asean assistance to nationals
THE practical application of this cooperation was evident on Friday when Singapore accommodated 24 Overseas Filipino Workers (OFWs) from Jeddah on a chartered military flight originally intended for 81 Singaporean nationals. After arriving in Singapore, the OFWs were escorted to Manila by Philippine Embassy welfare staff. Secretary Lazaro noted that nationals from several other Asean countries were also permitted
to board the Singapore Air Force A330 aircraft. She cited existing Asean frameworks that facilitate joint consular operations during emergencies. These include the Asean Declaration on the Guidelines on Consular Assistance and the Guidelines for the Provision of Emergency Assistance by Asean Missions in Third Countries to Nationals in Crisis Situations. Currently, there are approximately 2.4 million Filipinos in the Middle East. Many reside in Saudi Arabia, the United Arab Emirates, and Kuwait—areas that have recently been targeted by Iranian missiles. Thousands of workers and tourists have requested repatriation once international airports reopen and commercial flights resume. See “Asean,” A2
MILLION
Approximate number of Filipinos currently residing in the Middle East, mainly in Saudi Arabia, UAE, and Kuwait, regions recently targeted by Iranian missile strikes. Many are workers or tourists requesting repatriation once flights resume.
VINCENT GIORDANO | DREAMSTIME.COM
FOREIGN ministers of the Association of Southeast Asian Nations hold an emergency virtual meeting chaired by Philippine Foreign Secretary Ma. Theresa Lazaro to coordinate assistance for Asean nationals affected by escalating tensions in the Middle East and discuss potential energy disruptions. SCREENGRAB VIA PRESIDENTIAL COMMUNICATIONS OFFICE
CONOMIC ministers of the Association of Southeast Asian Nations (Asean) reiterated their call for an open and rules-based global trading system, calling the World Trade Organization (WTO) to avoid protectionist policies and unwarranted trade restrictions that could disrupt global commerce. In a joint statement released on Friday, the Asean leaders underscored the need to preserve a multilateral trading system that is rules-based, non-discriminatory, transparent and predictable, with the WTO remaining at its center. “We supported constructive engagement towards balanced outcomes at the 14th WTO Ministerial Conference (MC14), including the necessary reform of the WTO to improve all its functions,” the ministers said. The WTO, often described as the world’s trade watchdog, has faced challenges in curbing pro-
tectionist measures as global trade tensions intensify. Even last year, several countries filed complaints arguing that tariffs imposed by US President Donald Trump violated global trade rules. Alongside their call for open trade, Asean economic ministers also highlighted several regional initiatives aimed at strengthening economic integration within Southeast Asia. These include the Second Protocol to amend the Asean Trade in Goods Agreement, the proposed Asean Digital Economy Framework Agreement and the Asean Economic Community Strategic Plan 2026-2030.
De-escalation of Mideast tension
THE ministers also joined the region’s foreign ministers in calling for the de-escalation of tensions in the Middle East through diplomatic and peaceful means, including the cessation of hostilities and the exercise of restraint by all parties involved. See “WTO,” A2
PESO EXCHANGE RATES n US 59.5310 n JAPAN 0.3736 n UK 79.4739 n HK 7.6062 n CHINA 8.6486 n SINGAPORE 46.5704 n AUSTRALIA 42.1063 n EU 68.5440 n KOREA 0.0400 n SAUDI ARABIA 15.8652 Source: BSP (March 13, 2026)