Market Commentary and Intraday News

Philippine Unemployment Stable In July

245 days ago

(RTTNews) - Philippines' unemployment remained broadly unchanged in July, data released by the National Statistics Office showed Tuesday.

The unemployment rate came in at 7 percent in July, little changed from 7.1 percent recorded in the same month last year. The underemployment rate was 22.7 percent during the month, up from 19.1 percent recorded last year.

The employment rate edged up to 93 percent in July from 92.9 percent a year earlier. There were around 37.6 million employed persons in the country in July.

Meanwhile, the labor force participation rate dropped to 64 percent in July from 64.3 percent in July 2011, the agency said.

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