2.37M Filipinos jobless in October

SOME 2.37 million Filipinos were unemployed in October, the Philippine Statistics Authority (PSA) said Thursday.

This was equivalent to about 5.6 percent unemployment rate, lower than the 6 percent recorded a year ago.

Among the regions, Ilocos Region (8.5 percent), Calabarzon (7.8 percent), and National Capital Region (7.2 percent) had unemployment rates higher than the national figure.

About 63.4 percent of those unemployed were males.

"Of the total unemployed, the age group 15 to 24 years comprised 48.0 percent, while the age group 25 to 34, 32.1 percent. By educational attainment, 22.6 percent of the unemployed were college graduates, 13.3 percent were college undergraduates, and 33.3 percent were high school graduates," PSA said.

Underemployment rate plunged to 17.7 percent in October from 18.7 percent during the same period last year.

PSA considered as underemployed those employed persons who express the desire to have additional hours of work in their present job, or to have additional job, or to have a new job with longer working hours.

Meanwhile, there were 39.8 million Filipinos who were employed in October. Most of them or 54.5 percent came from the services sector, 29.6 percent from agriculture, and 15.9 percent from industry. (SDR/Sunnex)

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