Manila, Philippines – Following the all-time high 5.3% unemployment rate last July, the number of unemployed Filipinos once again spiked last October.
Based on the latest Labor Force Survey Report of the Philippine Statistics Authority, the unemployment rate was 5% in October from the 3.8% last September.
This is equivalent to 2.54 million Filipinos with no jobs or businesses.
Consequently, the employment rate slightly dropped on the said month, placed at 95.0% from the 96.2% last September.
This signifies 48.62 million Filipinos with jobs or businesses.
The largest portion of the employed persons came from the services sector with 60.6%, followed by agriculture sector with 21.5%, then Industry with 17.9%.
The highest employment rate was recorded at Region 12 SOCCSKARGEN with 96.8%, while CALABARZON the lowest at 93.6%.
Meanwhile, the underemployment rate was placed at 12%, equivalent to 5.81 million employed persons wanting additional work or additional work hours.
When sought for a reaction, Malacañang said that it is yet to have a copy of the data and will be coordinating with the Department of Labor and Employment for this matter.—Mia Layaguin, Eurotv News