Unemployment rate falls to 4.2% in Philippines
Kathmandu: The unemployment rate in the Philippines declined to 4.2 percent in November, compared to the previous month’s record of 4.5 percent.
The data showed 2.18 million Filipinos were out of work in November, lower than the 2.24 million recorded in October.
Unemployment rate was the lowest rate since April 2005 and the employment rate rose to 95.8 percent, bringing the total employment for November to 49.71 million.
Socioeconomic Planning Secretary Arsenio Balisacan said that the strong labor market signifies the steady recovery of the Philippine economy.
He says, “We see a more dynamic labor market as flexible work arrangements and digitalization provide easier access to employment opportunities for Filipinos who also attend to other essential tasks such as parenting and pursuing higher education, among others.”
