Unemployment rate reaches 8% in April
The unemployment rate in the Philippines rose to a near four-year high of 8.0 percent in April as companies shed jobs and fresh graduates poured into the work force, among the highest in Southeast Asia.
The country’s jobless rate last touched the 8 percent mark in April 2008.
Data from the National Statistic Office released Tuesday show that around 3.1 million of an estimated labor force of 38.5 million were classified as unemployed in April. In January, the unemployment rate stood at 7.3 percent, with 2.8 million of an estimated 38.8 million jobless.
The government conducts the labor force survey at the start of every quarter. April's jobless rate was also higher than the 7.5 percent recorded in April last year. The rate last stood at 8.0 percent in July 2006.
The statistics office did not specify a reason for the sharp jump in the jobless rate, though the total labour force inched down to 38.5 million from 38.8 million in January.
Data showed those employed in April numbered 35.41 million, down from the 35.99 million recorded in January but up from the 34.99 million recorded in April last year.


