Philippine jobless rate eased to 4.5% in October

MANILA (Philippine Daily Inquirer/Asia News Network): The number of unemployed people in the Philippines decreased to 2.24 million in October from 3.5 million a year ago, with 1.26 million escaping joblessness this year amid record high inflation.

Preliminary results of the Philippine Statistics Authority’s (PSA) latest labor force survey released on Wednesday (Dec 7) showed that the unemployment rate eased to 4.5 per cent in October, lower than the 7.4 per cent in October 2021 and the 5 per cent in September.