MANILA: The unemployment charge within the Philippines fell from 4.2 % in October 2023 to three.6 % in November, the bottom since April 2005, the Philippine Statistics Authority (PSA) stated on Tuesday.
At a press convention, PSA chief Denis Mapa stated that about 1.83 million folks have been unemployed in November final 12 months, whereas about 2.09 million have been unemployed in October 2023, and about 2.18 million folks have been unemployed in November 2022, Xinhua information company reported. Had been.
Nationwide Financial and Growth Authority Secretary Arsenio Balisacan stated the unemployment charge was the bottom recorded in November for the reason that statistics company launched a brand new methodology for measuring the labor pressure survey in 2005.
He burdened the necessity to develop the digital financial system within the nation, together with digitalization of micro, small and medium enterprises and startups, to deal with the declining labor pressure and enhance labor market positive factors by 2024 and past.
“Digitalization enables alternative work arrangements, especially for youth, women and people in the creative sector,” Balisakan stated.
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