From a high of 17.7 percent in April and 10 percent in July, the country’s unemployment rate eased to single-digit in October.
The number of unemployed Filipinos in October slowed down to 8.7 percent, a sign of economic recovery, the Philippine Statistics Authority (PSA) reported recently.
This means 800,000 jobs were brought back into the labor market in October, PSA said.
“This improvement in the unemployment rate was driven by the reopening of the economy and it could have been lower if the economy were opened further, coupled with the provision of safe and sufficient public transport,” said Acting Socioeconomic Planning Secretary Karl Kendrick Chua.
He added that the recent typhoons in the latter half of October resulted in significant employment loss in the agriculture sector.
PSA data show that job losses in agriculture from July to October reached 1.1 million, or 70 percent of the 1.5 million jobs lost between the said period.