News Karnataka
Saturday, December 09 2023

Philippines: Unemployment rate spikes in nation

Philippine Statistics Authority
Photo Credit : IANS

Manila: The unemployment rate in the Philippines went up to 6 per cent in May, compared to the previous month’s record of 5.7 per cent, official data revealed on Thursday.

The data by Philippine Statistics Authority (PSA) showed around 2.93 million Filipinos were out of work in May, up from the 2.76 million recorded in April, while 46.08 million Filipinos were employed in May, reports Xinhua news agency.

However, according to the National Economic and Development Authority, as the number of self-employed and unpaid family workers increased, the underemployment rate increased to 14.5 per cent in May, or an equivalent of 1.2 million additional underemployed.

“Now, the immediate challenge is the full reopening of the economy. Over the medium term, the government will focus on creating more jobs, quality jobs, and green jobs through productivity-enhancing investments,” said Socioeconomic Planning Secretary Arsenio Balisacan.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp