Economy

The number of employed Filipinos went up to 50.66 million in June this year from 49.63 million in May, data from the Philippine Statistics Authority (PSA) showed. Results of the latest Labor Force survey showed that this was also higher than the 50.47 million employed in June 2025. National Statistician Dennis Mapa said the employment rate during the month was …

The US-based World Bank (WB) last week sharply lowered its forecast for the Philippine economy, warning that rising uncertainty and the continuing global oil shock have dragged the country`s economy. In its latest Philippine Economic Update, the Washington-based lender now expects the country’s economy to expand 3.7 percent in 2026, a steep downgrade from the 5.3 percent growth it projected …

The growing use of digital payment systems by increasingly more and more Filipino business establishments  is a major factor in how the country will benefit from the proposed ASEAN Digital Economy Framework Agreement (DEFA). Trade and Industry Secretary Ma. Cristina Roque, on the sidelines of the ASEAN Tech Summit in Pasay City Wednesday, said the scope of the DEFA is …

The country’s  competitiveness in the information technology-business process management (IT-BPM) sector got a further boost following the lifting of the seven-year moratorium on the establishment of IT parks in Metro Manila. This was stressed by Philippine Economic Zone Authority (PEZA) Director General Tereso Panga Thursday, following the release of Administrative Order (AO) 45, which was signed by President Ferdinand R. …

The country’s trade deficit widened in June from a year earlier on higher imports and exports, preliminary data from the Philippine Statistics Authority (PSA) showed on Thursday. At $4.94 billion, the shortfall was 12.3 percent higher than the $4.4 billion posted a year earlier. It narrowed, however, from the $6.1 billion seen in May. Total trade in goods reached $22.48 …

An official of the Energy Regulatory Commission (ERC) on Wednesday said the proposal to extend the no disconnection policy on power bills will take into account not just the consumers but distribution utilities (DUs) as well. ERC imposed the no disconnection policy from May to July this year to aid power consumers from the high power rates partly due to …

The Philippine Nickel Industry Association (PNIA) has cited the need  for continued improvements in permitting efficiency, regulatory predictability, and investment competitiveness, noting the necessity of moving towards downstream processing. This  will require investments to expand the Philippines’ presence in the higher-value segments of the critical minerals supply chain. The group noted that potential Indonesian supply disruptions are reinforcing the need …

Bargain-hunting lifted the Philippine Stock Exchange index (PSEi) on Wednesday as buying interest resumed, which also benefited the Philippine peso. The local bourse’s main index rose 0.74 percent to 6,302.50 points, and the broader All Shares by 0.55 percent to 3,398.45 points. Financials led the sectoral gauges in tracking the main index after it rose 1.13 percent, and was trailed …

The Philippines’ unemployment rate shot up again in May, 2026, negating whatever measures the government under President Ferdinand Marcos Jr. has been doing to remedy the labor problem.  The government just can’t generate enough jobs for every worker willing to work. Latest data from the Philippine Statistics Authority (PSA) showed that the number of unemployed Filipinos rose to 2.5 million …

The Asian Development Bank (ADB) downgraded its Philippine economic growth forecast to 3.8 percent this year. In its Asian Development Outlook (ADO) report for July 2026 published last Wednesday night, July 8, the Manila-based multilateral lender sharply cut its 2026 gross domestic product (GDP) growth projection for its host country from 4.4 percent previously. The latest forecast is within the …