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MANILA - While the unemployment rate declined, fewer Filipinos were able to work amid the Omicron surge in January 2022, the National Economic and Development Authority (NEDA) said. As reported by the Philippine Statistics Authority on Friday, the unemployment rate improved from 6.6 percent in December 2021 to 6.4 percent in January 2022, the lowest since the start of the pandemic. However, due to the Omicron surge in January, the labor force participation rate fell from 65.1 percent to 60.5 percent. Another reason for lower employment levels is the end of the holiday season which shed off seasonal jobs. Despite this, net employment remains at 0.5 million above the pre-pandemic level. The level of underemployment also slightly increased from 14.7 percent to 14.9 percent. "The Omicron surge caused a temporary decline in our employment levels. Now that we have contained the spread of the virus and shifted to alert level 1 in most parts of the country, we look forward to an improveme
Russia’s invasion of Ukraine carries huge risks for a world economy that has yet to fully recover from the ravages of the Covid-19 pandemic that erased 255 million jobs in 2020 alone. The World Bank said governments in developing economies should move quickly to contain economic risks. In a joint…
© Provided by Xinhua A recent national survey shows that controlling inflation, increasing the workers salary, reducing poverty, curbing corruption, an
© Provided by Xinhua A recent national survey shows that controlling inflation, increasing the workers salary, reducing poverty, curbing corruption, an