Philippines' unemployment rate returns to pre-pandemic levels

The Philippine Statistic Authority (PSA) is unable to determine if the country's inflation rate has peaked.

The Philippine Statistic Authority (PSA) says it is unable to predict if the country's inflation rate has reached its peak at 8%, the Philippines highest inflation rate was in 1999 at 10.7% Credit: Pixabay/TheDigitalWay

Key Points

• In November, the inflation rate was at 8 per cent.
• The highest inflation rate was recorded in 1999 at 10.7 per cent.
• The Philippine Statistics Authority's (PSA) labor force survey has found that employment rate increased to 95.5% in October.

Employment increased in the following sectors: wholesale and retail trade, car manufacturing, transportation and storage, construction, accommodation and food services, and administrative and support services.

The PSA has also cited that the unemployment rate in October has returned to pre-pandemic levels at 4.5 per cent.