This translates to 2.76 million jobless Filipinos in January 2017, compared with 2.46 million jobless in January 2016, LFS data released by the Philippine Statistics Authority (PSA) showed on Tuesday. Consequently, the employment rate in January dropped to 93.4 percent from 94.3 percent a year earlier, according to the LFS results. However, the NEDA added that the unemployment rate in January 2017 reflected an improvement from the average 7.4 percent recorded from 2006-2015. Employment rate dropsThe employment rate in January dropped to 93.4 percent from 94.3 percent a year earlier. The NEDA said this translates to 39.3 million employed Filipinos, down by 1.34 million or 3.3 percent from the number in January 2016.

Source: Manila Times March 14, 2017 17:26 UTC