(Eagle News) — Unemployment rate in the country went down to 4.5 percent in October, the lowest since 2005, the Philippine Statistics Authority reported on Thursday, Dec. 5.
The PSA said this was also a decrease from the 5.1 percent in October last year.
Among the regions, Zamboanga Peninsula (1.9%), Cordillera Administrative Region (2.8%), Ilocos Region (3.5%), Northern Mindanao (3.5%) and MIMAROPA Region (3.7%) had the lowest unemployment rates, the PSA said.
Based on the survey, employment rate was at a whopping 95.5 percent in October, higher than the 94.9 percent employment rate recorded in October last year.
According to the PSA, workers in the services sector comprised the largest proportion of the employed population, at 57.7 percent of the total employed.
Workers in the agriculture sector comprised the second largest group, at 23.5 percent of the total employed, while workers in the industry sector made up the smallest group, at 18.9 percent of the total employed.
“The October 2019 LFS results also showed that in the industry sector, workers in the construction and manufacturing subsectors made up the largest groups, accounting for 51.9 percent and 44.4 percent of the workers in these subsectors, respectively,” the PSA said.