Jobless rate at 4.5% in Sept.

THERE were 2.26 million unemployed Filipinos in September, the Philippine Statistics Authority reported on Wednesday, Nov. 8, 2023.The unemployment rate was 4.5 percent for the month, lower than the five percent recorded in the same period last year but slightly higher than the 4.4 percent unemployment rate posted in August this year.Year-to-date, the unemployment rate averaged 4.6 percent, way below the 5.3 to 6.4 percent target for 2023.

Underemployed persons are those who expressed the desire to have additional hours of work in their present job, to have an additional job, or to have a new job with longer hours of work.High qualityIn a statement, the National Economic and Development Authority reiterated the government’s objective of pursuing high-quality job generation for Filipinos as labor market indicators continue to improve.

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