PH unemployment rate up at 4.7%

SunStar Publishing Inc.

THE country’s unemployment rate rose to 4.7 percent in July 2024, up from 3.1 percent in June, but remained lower than the 4.7 percent recorded in the same month last year. The Philippine Statistics Authority reported on Friday, September 6, 2024, that the country’s labor participation rate , or the total number of Filipinos aged 15 and over who were in the labor force, stood at 50.07 million, lower than the 51.90 million Filipinos last month. Of the total Filipinos in the labor force, 47.

The Neda said the country’s current low unemployment rate, compared to the same period in 2023, is comparable to that of major Asian economies and is even better than India’s rate of 7.9 percent and China’s rate of 5.1 percent.

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