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Monday, December 05, 2005
Labor expects improvement in employment rate in 3rd quarter (10:47 a.m.)
MANILA -- The labor department sees a reduction of the country's unemployment rate last October as more people managed to land jobs in the services sector that month.
Department of Labor and Employment (Dole) Secretary Patricia Sto. Tomas said their latest records showed that an estimated 500, 000 people got jobs, thus resulting in a decrease in the number of unemployed people.
Records showed that 2.7 million were jobless in the third quarter, which is lower than the 3.2 million unemployed people in the same period last year.
Sto. Tomas believed that the stable political situation in the country contributed to the decrease in the unemployment rate as more jobs were made following an increase in foreign and local investment. (Sunnex)
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