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Unemployment rate further eases in May

Published July 1, 2021, 9:52 AM StudentsUnemployment rate in May eased to its second lowest level this year, the Philippine Statistics Authority (PSA) reported on Thursday, July 1. The number of jobless Filipinos dropped by 10 percent from 4.14 million in April to 3.73 million in May, equivalent to an unemployment rate of 7.7 percent. May’s jobless report was lower than the unemployment rate in January (8.7 percent) and February (8.8 percent), but higher compared with 7.1 percent last March. Labor force participation rate (LFPR) in May was placed at 64.6 percent, equivalent to 48.45 million individuals who were either employed or unemployed. The May LFPR is higher than the reported in the months of January (60.5 percent), February (63.5 percent), and April (63.2 percent) of 2021.

Number of jobless Filipinos improves to 3 73M in May — PSA

endIndex: Metro Manila (CNN Philippines, July 1)  More Filipinos were able to find work in May with the gradual easing of quarantine restrictions aimed to curb the spread of COVID-19, the Philippine Statistics Authority said Thursday. National Statistician Dennis Mapa reported a national 7.7% unemployment rate among residents aged 15 and up, better than April s 8.7%. This means 3.73 million Filipinos are without jobs  lower than 4.14 million the month prior. Around 44.72 million Filipinos were also employed in May, up from 43.27 million the month prior. These figures correspond to employment rates of 44.72% and 43.27%, respectively. The labor force participation rate stood at 64.6% during the month, meaning 48.45 million Filipinos had jobs or wanted to find work higher than April’s 63.2% rate or 47.41 million tally.

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