World Economy

Philippines Jobless Rate Eases

Philippines Jobless Rate EasesPhilippines Jobless Rate Eases

The unemployment rate in the Philippines eased to 6.4% in April, the Philippine Statistics Authority said. This was lower than the 6.6% unemployment rate in January, Reuters reported. In April 2014, the jobless rate was at 7%. There were 39.2 million employed in the Philippines as of April 2015, up from 38.7 million a year earlier using data adjusted to exclude the typhoon-devastated Leyte. The statistics agency said the labor force participation rate was estimated at 64.6%, down from 65.2% a year ago. There were 6.98 million underemployed in April, less than the 7.0 million in April last year, with an underemployment rate of 17.8%.