Unemployment biggest threat facing Philippines – WEF

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January 18, 2026 | 12:00am

MANILA, Philippines — Unemployment and lack of social protection against economic shocks are seen as the biggest threats to the Philippines in the next two years, according to a World Economic Forum (WEF) report.

The Global Risks Report 2026 released by the WEF showed that lack of economic opportunity or unemployment was cited as the top risk for the Philippines in the next two years.

The report was based on the Executive Opinion Survey administered by the WEF between March and June 2025.

Latest data from the Philippine Statistics Authority showed that the country’s unemployment rate was at 4.4 percent in November 2025, down from the previous month’s five percent, but higher than the 3.2 percent posted in November 2024.

In terms of magnitude, there were 2.25 million unemployed Filipinos in November last year, lower than the previous month’s 2.54 million, but higher than the 1.66 million jobless Filipinos in November 2024.

Identified as the second top risk for the Philippines was insufficient public services and social protections including education, infrastructure and pensions.

Completing the top five risks for the Philippines are misinformation and disinformation, adverse outcomes of artificial intelligence (AI) technologies and inflation.

Globally, geoeconomic confrontation was identified as the top risk for this year, followed by state-based armed conflict and extreme weather events.

“In a world of rising rivalries and prolonged conflicts, confrontation threatens supply chains and broader global economic stability as well as the cooperative capacity required to address economic shocks,” WEF said.

It also said that geoeconomic confrontation is seen as the top global risk in the next two years.

Other risks seen in the short-term or next two years are misinformation and disinformation; societal polarization; extreme weather events; state-based armed conflict; cyber insecurity; inequality; erosion of human rights and/or civic freedoms; pollution; and involuntary migration or displacement.

In the long-term or next 10 years, extreme weather events topped the list of global risks.

Other global risks seen in the long-term are biodiversity loss and ecosystem collapse; critical change to Earth systems; misinformation and disinformation; adverse outcomes of AI technologies; natural resource shortages; inequality, cyber insecurity; societal polarization and pollution.

As near-term risks unfold and longer term challenges create knock-on effects, WEF managing director Saadia Zahidi said that cooperation remains important in managing global risks.

“The future is not a single, fixed path but a range of possible trajectories, each dependent on the decisions we make today as a global community,” she said.

Zahidi said challenges identified in the report including geopolitical shocks, rapid technological change, climate instability, societal strife and economic risks, underscore the scale of potential risks and the shared responsibility to influence the future.