MANILA, June 6 : The job market in the Philippines has seen a slight dip in April, as the nation’s unemployment rate rose to 4.1% in April, compared to 3.9% in March, according to figures released by the Philippine Statistics Authority (PSA) on Friday.
This translated to an estimated 2.06 million Filipinos out of work last month, a marginal increase from the 2.04 million recorded in April 2024, as confirmed by PSA Chief Dennis Mapa in a press conference.
Philipines, which is already facing a lot of economic hassles suc as global trade fluctuations and domestic challenges like high inflation, corruption, and climate change-related disruptions, this slight uptick in unemployment rates is an issue which could potentially exacerbate problems to new levels.
However, the country’s Department of Economy, Planning, and Development has maintained a positive outlook in the face of this latest development with Rosemarie Edillon, the department’s acting head and Undersecretary for Policy and Planning, stating that that the local Philippine labour market continues to demonstrate resilience amid global headwinds.
“We remain on track to meet our target unemployment range of 4.4% to 4.7% set under the Philippine Development Plan 2023-2028,” she said.
(UNI)
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