MANILA, Dec 7 (NNN-PNA) – The unemployment rate in the Philippines decreased to 4.2 percent in Oct, from 4.5 percent in Sept, the lowest since Apr, 2005, the Philippine Statistics Authority (PSA) said, today.
PSA head, Dennis Mapa, said, about 2.09 million people were jobless in Oct. “This was lower than the reported number of unemployed persons in Oct, 2022 of 2.24 million and in Jul, 2023 of 2.27 million,” Mapa told a news conference.
National Economic and Development Authority (NEDA) Secretary, Arsenio Balisacan, said, the Oct unemployment rate was the lowest recorded in nearly two decades.
“Given these promising labour market conditions, the NEDA underscored the importance of expanding opportunities for individuals, to reskill or upskill, while sustaining efforts to create an environment promoting high-quality jobs,” the Philippines’ chief socioeconomic planner added.– NNN-PNA
