Fewer working age Filipinos returning to the labor market

Unemployment in the country eased further in October as community quarantine restrictions were further eased, but fewer working age Filipinos were returning to the labor market.

Preliminary results of the October 2020 round of the Labor Force Survey showed that the unemployment rate eased to 8.7 percent in October from 10 percent in July.

This was equivalent to 3.8 million Filipinos without jobs nor livelihood in October, 800,000 fewer compared with 4.6 million in July when the country was just emerging from strict lockdowns.

While unemployment in October eased from July and April, this was still almost double the pre-pandemic rate of 4.6 percent in October 2019 when only two million Filipinos were out of work.

The number of confirmed cases in the country has so far risen to more than 400,000, around 22,000 of which are active cases. The number of deaths has so far remained low at over 8,000.

Source: https://www.philstar.com/business/2020/12/08/2062150/economic-scarring-philippines-among-worst-globally

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