Unemployment rises in October


Posted at Dec 18 2012 03:35 PM | Updated as of Dec 18 2012 11:35 PM

MANILA, Philippines - Unemployment rose in October, supporting criticism that the country's fast economic expansion amounts to so-called jobless growth.

Unemployment was 6.8% in October from 6.4% a year before, despite a 7.1% expansion in the Philippine economy in the third quarter which was the fastest pace in Southeast Asia.

According to today's labor report, the unemployed rose to 2.76 million people from 2.64 million, while people with jobs fell to 37.7 million from 38.6 million.

Socioeconomic Planning Secretary Arsenio Balisacan said that amid "remarkable" economic growth, creating more jobs remains to be the government's biggest priority.

Booming Metro Manila posted the highest unemployment rate at 11%, while Cagayan Valley has the lowest unemployment rate at just 2.4%. -- ANC