Jobless rate rises to 4.7% in July
The Philippine Star|September 07, 2024
The country's unemployment rate rose to 4.7 percent in July, the highest in a year as more young Filipinos joined the labor force but were unable to find jobs, according to the Philippine Statistics Authority (PSA).
LOUELLA DESIDERIO

Preliminary results of the Labor Force Survey released yesterday by the PSA showed that the latest unemployment rate was the highest since the 4.9 percent in the same period last year, translating to 2.38 million jobless Filipinos.

This is also higher than the 3.1 percent unemployment rate in June.

National Statistician Dennis Mapa attributed the higher unemployment rate to the increase in the number of young people or those in the 15 to 24 age group who were jobless.

"We saw in July that those who graduated from college or K-12 entered the labor market, but some of them could not find jobs," Mapa said.

He said the 15 to 24 age group accounted for 43 percent or 1.02 million of those unemployed in July.

In July 2023, the same age group represented 37.1 percent or 850,000 of the total unemployment figure.

Mapa also cited the impact of unfavorable weather conditions on demand for jobs as a reason for the higher unemployment rate.

This story is from the September 07, 2024 edition of The Philippine Star.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 07, 2024 edition of The Philippine Star.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM THE PHILIPPINE STARView All
The Philippine Star

Travellers cooking up new concept with Gordon Ramsay

Travellers International Hotel Group Inc., the leisure and tourism arm of Andrew Tan's Alliance Global Group Inc. (AGI), could be cooking up something new with internationally renowned and multi Michelin-starred chef Gordon Ramsay.

time-read
1 min  |
September 16, 2024
The Philippine Star

Tiu refiles civil case vs Greenergy, MIS

The camp of businessman Antonio Tiu has refiled a civil case against listed Greenergy Holdings Inc.and MIS Maritime Corp. following an earlier court dismissal.

time-read
2 mins  |
September 16, 2024
The Philippine Star

BSP profit soars to P85.5 B in H1

The Bangko Sentral ng Pilipinas (BSP) more than tripled its earnings to P85.5 billion in the first half, from P19.86 billion in the same period last year, mainly driven by higher revenues and lower spending.

time-read
1 min  |
September 16, 2024
The Philippine Star

Teach the brat respect

Once in a while, some members of Congress manage to remember their obligation to the nation.

time-read
4 mins  |
September 16, 2024
AYALA LAND'S 36-YEAR LEGACY OF TRANSFORMING PHILIPPINE REAL ESTATE
The Philippine Star

AYALA LAND'S 36-YEAR LEGACY OF TRANSFORMING PHILIPPINE REAL ESTATE

For more than three decades, Ayala Land, Inc. (ALI) has been an integral part of the lives of generations of Filipinos. As a trailblazer in the property industry, the company has continuously created vibrant communities that have become home to families, businesses, and individuals.

time-read
4 mins  |
September 16, 2024
The Philippine Star

It's too late

“And it’s too late, baby, now it’s too late. Though we really did try to make it. Something inside has died. And I can’t hide, and I just can’t fake it.”

time-read
3 mins  |
September 16, 2024
The Philippine Star

Semirara sees better earnings in H2

Consunji-led Semirara Mining and Power Corp.(SMPC) is poised for a financial uplift in the second half of the year amid stable coal prices and a revitalized energy business.

time-read
1 min  |
September 16, 2024
AGI investing $300 M for new Boracay resort
The Philippine Star

AGI investing $300 M for new Boracay resort

Alliance Global Group Inc.(AGI) of tycoon Andrew Tan intends to pour in about $300 million for the development of another integrated resort development in the Visayas.

time-read
2 mins  |
September 16, 2024
The Philippine Star

What to expect under a new NAIA

They say a journey of a thousand miles begins with a single step.What is this single step then when the task is to rehabilitate a 76-year-old airport known to many as one of the world's worst gateways?

time-read
3 mins  |
September 16, 2024
The Philippine Star

Foreign debt jumps to $130.2 B in June

The country's external debt hit another all-time high of $130.18 billion as of end-June, inching up by 1.2 percent from $128.69 billion in end-March as both the national government and the private sector borrowed more from offshore creditors.

time-read
2 mins  |
September 16, 2024