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Unemployment in the Philippines reaches lowest level since the beginning of the pandemic

The unemployment rate in the Philippines fell in September to a new low since the start of the coronavirus pandemic, with the country recovering as its domestic economy reopens.

The unemployment rate decreased to 5% in September from 5.3% in august.

Previously, GDP had grown by 7.4% in the second quarter. This puts average growth in the first half of the year at 7.8% and above the government’s growth target for 2022 of 6.5-7.5%. GDP data for the third quarter will be published on November 10.

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