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Philippine jobless rate eases as economy reopens from lockdown

Published 12/03/2020, 10:34 AM
Updated 12/03/2020, 10:40 AM
© Reuters.

© 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.

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