Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Philippine jobless rate eases as economy reopens from lockdown

Economic IndicatorsDec 03, 2020 10:40
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

MANILA, Dec 3 (Reuters) - The Philippines' unemployment rate
in October eased further from a record-high hit in April,
official data showed on Thursday, as the government gradually
lifted coronavirus curbs to open up an economy that sank deeper
into recession in the third quarter.
The Southeast Asian country, which was one of the region's
fastest growing economies before the pandemic, is still
struggling to contain COVID-19 infections and prop up battered
consumer confidence and spending.
October's 8.7% unemployment rate, equivalent to 3.8 million
jobless people, was nearly double the 4.6% in the same period
last year but below the record 17.6% in April. The average jobless rate for 2020, based on four surveys,
was 10.4%, or 4.5 million people, the highest since 2005, the
statistics agency said.
Industries that posted the largest drop in employment
include entertainment and recreation, accommodation and food
services, real estate activities, transportation and
manufacturing.
The unemployment rate in Manila, which accounts for 40% of
the country's economic output, was at 12.4% owing to
restrictions on movement through transportation curbs, national
statistician Claire Dennis Mapa told a news conference.
President Rodrigo Duterte in June relaxed the country's
lockdown, one of the world's longest and strictest, to allow
more businesses to reopen, albeit at reduced capacity.
Duterte on Monday said that partial coronavirus restrictions
will remain in the capital region until the end of the year,
urging people to limit Christmas gatherings to prevent a
post-holiday surge in COVID-19 cases.

Philippine jobless rate eases as economy reopens from lockdown
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email