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(Eagle News) — The Palace on Friday, June 5, said it was “saddened” but “not surprised” by the rise in unemployment in the country in April, expressing optimism Filipinos would weather the crisis. In a statement, Presidential Spokesperson Harry Roque said the unemployment rate–which, according to the Philippine Statistics Authority, was a record-high 17.7 percent two months ago or equivalent to 7.3 unemployed Filipinos–was an “obvious effect of the economic shutdown when the entire Luzon […]
(Eagle News) — The House of Representatives has approved on third and final reading the P1.5-trillion COVID-19 Unemployment Reduction Economic Stimulus (CURES) bill. With 210 affirmative votes, seven negative votes, and no abstention, the House gave the green light to House Bill 6920 that aims to fund infrastructure projects prioritizing five sectors: health, education, agriculture, local roads and livelihood. The five sectors are deemed the most affected by the COVID-19 crisis. Under the measure, if […]
(Eagle News) — The Department of Labor and Employment on Friday, June 5, expressed hope the country’s labor force would recover with the resumption of economic activities amid the COVID-19 pandemic. Labor Secretary Silvestre Bello III made the statement after a survey by the Philippine Statistics Authority found the country’s unemployment rate rose to a record-high 17.7 percent in April, equivalent to 7.3 million unemployed Filipinos. “As the economy opens gradually, we are hopeful that […]
(Eagle News)–Inflation further cooled to 2.2 percent in April, bringing the year-to-date inflation for this year to only 2.6 percent. The Philippine Statistics Authority said the 2.2 percent last month was slower than the 2.5 percent annual increase in March 2020. Contributing to the downtrend in the headline inflation in April was the further decrease in the annual rate of transport index at 6.1 percent, the PSA said. The PSA said this was the lowest […]
(Eagle News) — Employment rate in January reached 94.7 percent, the Philippine Statistics Authority reported on Thursday, March 5. The PSA said this was the same as the rate recorded in January last year. According to the PSA, the Cordillera Administrative Region (97.2%), Region X-Northern Mindanao (96.8%), Region XII-SOCCSKSARGEN (96.7%), Region IX-Zamboanga Peninsula (96.5%), Region VII-Central Visayas (96.5%) and MIMAROPA Region (96.4%) registered the highest employment rates. Region I-Ilocos Region, Region IVA-CALABARZON had the lowest […]
(Eagle News) — Inflation further slowed in February, clocking in at 2.6 percent, the Philippine Statistics Authority reported on Thursday, March 5. According to the PSA, inflation rate in January was pegged at 2.9 percent and at 3.8 percent in February 2019. The PSA said the downtrend in the inflation was due to the “slower annual increase in the heavily-weighted food and non-alcoholic beverages index at 2.1 percent during the month.” “In addition, annual increments […]
(Eagle News)–The uptick in the inflation rate in December 2019 is well within the government’s target, the Palace said on Tuesday, Jan. 7. In a statement, Presidential Spokesperson Salvador Panelo said the 2.5 percent, while an increase from November 2019’s 1.3% was well within the target range of 2% to 4%. According to Panelo, based on the National Economic and Development Authority, the December 2019 inflation rate was due to an increase in the prices […]
(Eagle News)-The country’s inflation rate increased further at 2.5 percent in December 2019, the Philippine Statistics Authority said. According to the PSA, the increase from the 1.3 percent recorded in November 2019 was due to the 1.7 percent annual increments recorded in the heavily-weighted food and non-alcoholic beverages index. The PSA said in November 2019, the food and non-alcoholic beverages index registered an annual rate of zero percent. The PSA also noted that the annual […]
(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 […]
(Eagle News) — The Philippine economy grew 6.2 percent in the third quarter of 2019, the government reported on Thursday, Nov. 7. According to data provided by the Philippine Statistics Authority, this was 0.2 percent higher than the 6.0 percent economic growth recorded in the third quarter in 2018. It is also higher than the 5.5 percent growth recorded in the second quarter. The PSA said net primary income from the rest of the world […]
(Eagle News)–Inflation eased further to 0.8 percent in October, the lowest recorded since May 2016. The Philippine Statistics Authority said the October rating was lower than the 0.9 percent recorded in September, and the one recorded in October 2018 or 6.7 percent. The PSA said the downtrend was mainly due to the 0.9 percent annual drop registered in the heavily-weighted food and non-alcoholic beverages index. The annual rate of transport index also went down further […]
(Eagle News)–Inflation slowed further to 0.9 percent in September, the lowest since June 2016. The Philippine Statistics Authority reported on Friday, Oct. 4, the downtrend was primarily due to the “0.9 percent annual rate of decrease in the index of heavily-weighted food and non-alcoholic beverages.” The PSA noted there was also a decrease in the annual change of the transport index– 0.9 percent–and lower annual increases in the following commodity groups: Clothing and footwear, 2.7%; […]
