Business

PH jobless rate declines in July

The country’s unemployment rate fell to 10 percent in July from the record 17.7 percent in April, the Philippine Statistics Authority reported.

The number of Filipinos without jobs stood at 4.6 million as the country continues to suffer from the ill effects of Covid-19. This is higher than the 2.4 million unemployed in July 2019.

“The decrease in the unemployment rate means that some 2.7 million jobs returned as the quarantine level eased,” NEDA Acting Secretary Karl Chua said.

Establishments engaged in trade, agriculture, construction, manufacturing, and transport saw the biggest improvements in hiring.

“To bounce back from this crisis, we will need to open the economy even more,” Chua said.

He said the job market would improve further once Metro Manila and Calabarzon shift to the most lenient quarantine as soon as possible.

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