3.16M Filipinos jobless in November

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THE country’s jobless rate stood at 6.5 percent in November, the lowest since January 2021.

The second lowest was in July 2021 at 6.9 percent, while the third lowest was in March 2021 at 7.1 percent, according to the latest report of the Philippine Statistics Authority on Friday, Jan. 7, 2022.

September logged the highest jobless rate at 8.9 percent.

Total unemployed Filipinos during the month was at 3.16 million, lower by 345,000 from the total unemployed persons reported in October 2021, which stood at 3.50 million.

“This result follows the imposition of Alert Level 2 in many parts of the country, which allowed more mobility and economic activity, while targeting restrictions in areas of highest risks,” said the National Economic and Development Authority (Neda).

In the same period, the labor force participation rate also increased from 62.6 percent to 64.2 percent.

The decrease in unemployment, combined with a higher labor force participation rate, led to a net employment creation of 1.7 million during the month.

This translates to 2.9 million more Filipinos employed compared to the pre-pandemic level, signalling continuous economic recovery, the Neda said.

The employment rate in the country picked up in November 2021 to 93.5 percent, the highest reported since the start of 2021.

This was equivalent to 45.48 million employed persons.

“In November 2021, we saw how we can successfully manage Covid-19 risks and safely reopen the economy. Our policies to accelerate vaccination and to shift to the more targeted alert level system with granular lockdowns enabled us to significantly bring down Covid-19 cases and deaths while bringing back more employment,” Socioeconomic Planning Secretary Karl Kendrick Chua said.

By broad industry group, the services sector dominated all sectors, having the largest share of employed persons with 58.1 percent.

The agriculture and the industry sectors contributed 24.5 percent and 17.4 percent of the employed persons, respectively.

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