Philippine Unemployment Rate Falls In October

The unemployment rate in Philippine decreased in October from a year ago, preliminary figures from the National Statistical Office showed Wednesday.

The jobless rate fell to 6.0 percent in October from 6.4 percent in the same month previous year.

The number of unemployed persons declined to 2.5 billion in October from 2.6 billion a year ago.

Youth, aged between 15 and 24, accounted for 49.4 percent of the total number of unemployed people compared to 47.5 percent in the year ago period.

Meanwhile, the employment rate rose to 94.0 percent during the month from 93.6 percent last year.

The labor force participation rate was up at 64.3 percent in October from 63.9 percent last year.

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