Business News
Philippines unemployment rate rises to 7.7 per cent
Mar 17, 2009, 5:12 GMT
Manila - The Philippines' unemployment rate rose to 7.7 per cent in January as tens of thousands of Filipinos lost their jobs or failed to find work amid the global economic crisis, the government said Tuesday.
The National Statistics Office said the January unemployment rate was up from the 7.4 per cent recorded in the same month last year.
The actual number of jobless people increased to 2.85 million in January from 2.67 million a year ago, according to the agency.
It said the country's labour force rose to 58.65 million in January 2009 from 57.37 million last year.
The employment rate dipped to 92.3 per cent from 92.6 per cent.
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