Unemployment Rate at 8.7% from 10%, Underemployment at 14.4% from 17.3%
The Philippine Statistics Authority (PSA) reported an unemployment rate of 8.7% in October from 10% in July.
The full year unemployment average is at 10.4%, from a 5.05% average in 2019.
The National Capital Region (NCR) has the highest reported unemployment rate at 12.4%.
The National Economic Development Authority (NEDA) said that the improved unemployment rate is a sign of economic recovery alongside the government gradually allowing businesses to resume operations.
Underemployment improved to 14.4% in October from 17.3% in July.
Source: Tribune
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