CNA – The Philippines’ unemployment rate in September fell to a new low since the COVID-19 pandemic began, highlighting more green shoots of recovery as the country fully reopens its domestic economy.
The unemployment rate eased for a third month in a row to hit five per cent in September, the statistics agency said yesterday, which bodes well for third-quarter growth.
“The recent survey results show the gains of the full re-opening of our economy,” Economic Planning Secretary Arsenio Balisacan said in a statement.
Gross domestic product was 7.4 per cent in the second quarter, bringing the average growth in the first half of the year to 7.8 per cent, above the government’s 6.5-7.5 per cent growth target for 2022.
