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Unemployment rate in the Philippines climbed to 4.5 percent in January 2024 from a record low of 3.1 percent in December 2023, the Philippine Statistics Authority said Friday.
The underemployment rate in January 2024 also eased to 13.9 percent 14.1 percent reported in the same month last year. Finance Secretary Ralph Recto said the quality of jobs in the Philippines continued to improve as more Filipinos are engaged in formal and stable work—representing the largest portion of the employed workforce in the country.
Most of the contraction was recorded among women , the youth cohort , and junior high school graduates , it said. The top reasons cited for not joining the labor force are household duties, age-related restrictions, such as being too young/old or having a permanent disability, and schooling.
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