News Karnataka
Thursday, January 20 2022

World

Unemployment rate in Philippines dips to 7.4%

Manila: Around 3.50 million Filipinos were out of work in October, down from the 4.25 million reported in September, according to a Philippine Statistics Authority (PSA) survey released on Tuesday.

In an online briefing, PSA head Dennis Mapa said the October unemployment rate, 7.4 per cent, was the third lowest reported this year, reports Xinhua news agency.

The lowest reported was in July, estimated at 6.9 per cent, followed by 7.1 per cent in March.

The unemployment rate was the highest in September at 8.9 per cent.

The country’s economic team said the October labour force survey results “affirmed the soundness of the government’s push to safely reopen the economy, restore employment, and manage the spread of the Covid-19”.

“As we relaxed restrictions, more people were able to work while Covid-19 positivity, case fatality, and bed occupancy rates continued to improve,” said the team comprising Socioeconomic Planning Secretary Karl Kendrick Chua, Finance Secretary Carlos Dominguez, and Budget officer-in-charge Tina Rose Marie Canda.

“Sustaining these gains will allow us to recover to the pre-pandemic level in early 2022, a year ahead of the government’s initial estimates,” the team added.

The team said more people are employed now than in the months before the pandemic struck.

“Employment creation remained positive as 234,000 more Filipinos were able to find work in the past month.”

It added that this brings total employment to 1.3 million above pre-pandemic levels.

The team said the government’s policies that further reopened the economy safely, such as shifting to the alert level system and granular lockdowns from large-area and blanket quarantines and allowing more mobility for vaccinated individuals, led to better employment outcomes in October.

MANY DROPS MAKE AN OCEAN
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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

Subscribe Newsletter

Get latest news karnataka updates on your email.