A worker is seen at a construction site in Quezon City, the Philippines, on July 8, 2023. The Philippines' unemployment rate in May dropped to 4.3 percent from 4.5 percent in April, with 2.17 million labor force out of job, the Philippine Statistics Authority (PSA) said on Friday. (Xinhua/Rouelle Umali)
MANILA, July 7 (Xinhua) -- The Philippines' unemployment rate in May dropped to 4.3 percent from 4.5 percent in April, with 2.17 million labor force out of job, the Philippine Statistics Authority (PSA) said on Friday.
The May unemployment rate was the second lowest since April 2005, following the 4.2 percent unemployment rate in November 2022, PSA head Dennis Mapa told a news conference.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the government will continue to push for and implement "game-changing reforms" to improve the Southeast Asian country's business investment climate, especially for foreign investors, and help sustain current market gains.
"To achieve our near and medium-term targets, it is important that the government remains committed to fostering a favorable investment climate to address critical constraints to high-quality job creation," Balisacan added. ■
Workers are seen at a construction site in Quezon City, the Philippines, on July 8, 2023. The Philippines' unemployment rate in May dropped to 4.3 percent from 4.5 percent in April, with 2.17 million labor force out of job, the Philippine Statistics Authority (PSA) said on Friday. (Xinhua/Rouelle Umali)
