By Katrina Gracia Consebido
The National Economic and Development Authority (NEDA) on Wednesday, Dec. 7, hailed the drop in the number of unemployed Filipinos.
The Philippine Statistics Authority reported that the country’s employment situation improved with the jobless rate reaching 4.5% in October, lowest in 17 years.
“The country’s sustained recovery of the labor market backs our confidence that our policies and interventions to reinvigorate our economy are working,” NEDA Secretary Arsenio Balisacan said.
“Our move to finally open face-to-face classes at full capacity has paved the way for us to immediately address the learning losses from the pandemic—this is a precursor to a workforce that demonstrates competence and high productivity. Also, with children back in school, parents-at-home—especially mothers—are also able to pursue more income opportunities,” he added.
The majority of the increase in employment came from the services and industry sectors. -gb
READ MORE: PH employment improves in October
