PH jobless rate up 6.1 pct in April | ABS-CBN

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PH jobless rate up 6.1 pct in April

PH jobless rate up 6.1 pct in April

ABS-CBN News

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MANILA - The country's unemployment rate rose to 6.1 percent in April from 5.8 percent in January, the Philippines' statistics agency said on Thursday.

The rate is equivalent to 2.6 million unemployed people from 2.5 million in January.

There were 39.9 million people employed in the Philippines as of April, down from the January figure of 40.05 million.

The labor force participation rate was estimated at 63.7 percent (excluding Leyte) versus 64.6 percent in April last year.

Meanwhile, the number of underemployed people decreased.

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There were 7.35 million underemployed in April versus 7.88 million in January, with an underemployment rate of 18.2 percent.

About 54 percent of the underemployed worked for less than 40 hours a week. Most of the underemployed worked in the services and agriculture sectors.

Underemployment is defined as those with jobs but who want to work more.

The Philippine economy could grow between 6.5 and 6.6 percent this year, below the bottom end of the official growth target, incoming Economic Planning Minister Ernesto Pernia said. -- With Reuters

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