Philippines' jobless rate falls to 3.2 pct in November 2024

MANILA:The Philippines' unemployment rate in November 2024 fell to 3.2 percent, down from 3.9 percent in the previous month, the Philippine Statistics Authority (PSA) said Wednesday.

PSA head Dennis Mapa said at a press conference that an estimated 1.66 million Filipinos were out of work in November 2024, lower than 1.97 million jobless Filipinos in October 2024.

The unemployment rate in November 2023 was recorded at 3.6 percent, the PSA data showed.

National Economic and Development Authority Secretary Arsenio Balisacan said the Philippines' labor market "remains robust, with consistently high employment rates and reduced underemployment."

"The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy," he added.

Moreover, Balisacan said the government "will encourage business upgrading and skills training programs to ensure that these jobs offer competitive wages as our workers raise their productivity by developing their human capital."

Related Business News

Congress Attacks Modi Government Over India-US Trade Agreement

(Fast Mail):-- Citing fears that the implementation of the India-US trade agreement could particularly adversely affect the interests of Indian farmers, the Congress demanded that the central government make the full details of this agreement public. Congress spokesperson and head of the party....

Economic Survey: High growth rate estimation conceals weaknesses in agriculture, manufacturing, and exports

By Jagadananda Pradhan (Fast Mail News):-- High growth estimate shown while concealing weaknesses in agriculture, manufacturing, and exports in the Economic Survey of India-2026, tabled by Finance Minister Nirmala Sitharaman in Parliament on Thursday.The survey has raised India's growth r....

BJP attempting to centralize power: Rahul Gandhi

KOCHI: Congress leader Rahul Gandhi on Monday accused the Rashtriya Swayamsevak Sangh (RSS) and the Bharatiya Janata Party (BJP) of attempting to centralize power, while stating that the Congress believes in decentralization. The Leader of Opposition in the Lok Sabha made these remarks at a 'Maha Pa....

Congress flags economic concerns as Parliament schedule is announced

(Fast Mail):--The schedule for the forthcoming session of Parliament has been announced and the 2026/27 Budget will be presented twenty days from now, drawing early political focus to the state of the economy and Centre–state finances. Congress leader Jairam Ramesh said the budget would no dou....

Modi Government Planning to Lift Ban on Chinese Companies : Congress

(Fast Mail):-- The Congress on Friday, citing a news report, claimed that the Modi government is now proposing to lift the five-year-old restrictions on Chinese companies so that they can bid for Indian government contracts. The opposition party also claimed that this step is nothing less than a &qu....