Philippines' Unemployment Rate Up to 4.1 Percent in May
PSA head Dennis Mapa said at a press conference that there were 2.11 million jobless Filipinos in May this year.
"This was lower than the number of unemployed persons in May 2023 at 2.17 million but higher than in April 2024 at 2.04 million," Mapa added.
According to the PSA, the jobless rate in May 2023 was 4.3 percent.
As the country's unemployment rate continues to drop compared to last year, National Economic and Development Authority Secretary Arsenio Balisacan said the government "remains committed to invigorating investments and implementing key reforms to sustain the positive momentum of the labor market and create more quality jobs for Filipinos."
Balisacan noted that about 1.6 million jobs were lost to natural disasters such as the El Nino drought and typhoon Ewiniar.
