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MANILA - The country's net employment creation in December 2021 signals that the economy is on the right track to recovery, the National Economic and Development Authority (NEDA) said. The Philippine Statistics Authority reported Thursday that unemployment slightly increased to 6.6 percent in December 2021 from 6.5 percent in November 2021. However, this was more than offset by the larger increase in the labor force participation rate, which improved to 65.1 percent from 64.2 percent. This meant that around 800,000 more people were able to find work as mobility restrictions were relaxed in December. This brings net employment creation to 3.7 million above pre-pandemic levels. The underemployment rate also declined to 14.7 percent in December compared to 16.7 percent in November, as the quality of jobs further improved. "By accelerating the vaccination program and safely reopening more sectors of the economy, we were able to generate more and better jobs for the people. We look

Karl kendrick chuaEconomic development clusterNational economicPhilippine statistics authorityAgency task force resolution noDevelopment authorityNational capital regionAlert levelPlanning secretary karl kendrick chuaInter agency task force resolutionManila the country 39s net employment creation in december 2021 signals that economy is on right track to recoveryHe national economic and development authority neda said the philippine statistics reported thursday that unemployment slightly increased to 6 percent in december 2021 from 5 november howeverHis was more than offset by the larger increase in labor force participation rateHich improved to 65 1 percent from 64 2 this meant that around 800000 more people were able to find work as mobility restrictions relaxed in december this brings net employment creation 3 7 million above pre pandemic levels the underemployment rate also declined 14 percent compared 16 novemberS the quality of jobs further improved quot by accelerating vaccination program and safely reopening more sectors economy