The jobless rate in the Philippines dropped to a five-month low of 4.3 percent in May as the country continues to recover from the ravages of the COVID-19 pandemic, according to preliminary data from the PSA. | AldenMonzonINQ RonWDomingoINQ /PDI
The industries that hired the most were agriculture and forestry ; accommodation and food service activities ; other service activities ; fishing and aquaculture ; and arts, entertainment and recreation .
Secretary Arsenio Balisacan of the National Economic and Development Authority said in a statement that even with the favorable performance of the domestic labor market, the government will continue to push for and implement reforms to improve the country’s business investment climate. “[We are] hard at work to boost productivity through higher public investments in human capital development,” Diokno said.
Ecop president Sergio Ortiz-Luis Jr. told the Inquirer that he projects unemployment to stay at the May levels, saying that more jobs will be created in the services, construction, manufacturing and tourism sectors in the remaining months of 2023.
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