MANILA, Dec. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 4.2 percent in October from 4.5 percent in September, the lowest since April 2005, the Philippine Statistics Authority (PSA) said Thursday.
PSA head Dennis Mapa said about 2.09 million people were jobless in October. "This was lower than the reported number of unemployed persons in October 2022 of 2.24 million and in July 2023 of 2.27 million," Mapa told a news conference.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the October unemployment rate was the lowest recorded in nearly two decades.
"Given these promising labor market conditions, the NEDA underscored the importance of expanding opportunities for individuals to reskill or upskill while sustaining efforts to create an environment promoting high-quality jobs," the Philippines' chief socioeconomic planner added. ■
