The official Philippine unemployment rate logged at 3.9% in October, down from the 4.2% posted a year earlier, but up from the 3.7% rate recorded in September, reported the Philippine Statistics Authority (PSA) reported on Friday.
The five sectors posting the largest employment gains in October were administrative and support service activities; accommodation and food service activities; transportation and storage; construction; and mining and quarrying.
The five sectors recording employment declines were fishing and aquaculture; wholesale and retail trade, including repair of motor vehicles and motorcycles; agriculture and forestry; manufacturing; and other service activities.
The Philippines civilian labor force participation rate, that includes all people over aged 15 either working or seeking work, recorded at 63.3% in October, down from 63.9% a year earlier, and also down from 65.7% in September, according to the PSA.
During the pandemic era, employment levels in the Philippines declined. On average in 2020, the labor participation rate was 59.5%, and the official unemployment rate struck 10.3%.
Since the nadir in 2020, the labor participation rate has risen to levels actually modestly above the pre-COVID levels of 2018 and 2019, while the unemployment rate has sipped to levels modestly below pre-pandemic era norms.
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