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Ph unemployment hits new low since pandemic
By Nidz Godino
“The recent survey results show gains of full reopening of our economy,” Economic Planning Secretary Arsenio Balisacan said in statement Philippines’ unemployment rate in September fell to new low since COVID-19 pandemic began, highlighting more green shoots of recovery as country fully reopens domestic economy.
Unemployment rate eased for third month in a row to hit 5% in September, the statistics agency said which bodes well for third quarter growth.
Gross domestic product was 7.4% in the second quarter, bringing average growth in the first half of the year to 7.8%, above government’s 6.5-7.5% growth target for 2022. Official third quarter GDP data will be released tomorrow, Nov. 10.
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