Unemployment, underemployment drop in November 2024 amid holiday season

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The Philippine Statistics Authority or PSA says the unemployment and underemployment in the Philippines decreased in November 2024, as businesses prepared for the holiday season.   Full story: https://www.rappler.com/business/unemployment-rate-philippines-november-2024/

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00:00The Philippine Statistics Authority, or PSA, says the unemployment and underemployment

00:05in the Philippines decreased in November 2024 as businesses prepared for the holiday season.

00:11The unemployment rate fell to 3.2 percent, with 1.66 million jobless Filipinos in November,

00:17down from the 3.6 percent in the same month in 2023.

00:21The underemployment rate also dropped to 10.8 percent, with 5.35 million Filipinos in November.

00:27National statistician Dennis Mapa says the manufacturing industry gained around 784,000

00:33more jobs year-on-year.

00:35The wholesale and retail sector experienced the highest increase in employment since October

00:392024, adding 746,000 jobs.

00:43Mapa says the growth in manufacturing and retail jobs in November was anticipated because

00:48of the holiday season.

00:50He also notes the holiday season was the factor behind the drop in underemployment rate, with

00:54more Filipinos getting hired in full-time jobs.

00:57Meantime, the agriculture and fisheries sector suffered the largest job losses since November

01:022023, with 1.99 million workers affected.

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