Philippines Unemployment Rate At 7.3% In January

Philippines' unemployment rate stood at 7.3% in January, down from 7.7% a year ago, the National Statistics Office reported on Tuesday.

The underemployment rate, on the other hand, climbed to 19.7% from 18.2%.

In January, there were 36 million employed persons in the Philippines, with over half of that number employed in the services sector.

The statistical office also said that the labor force participation rate climbed to 64.5% in January from 63.3% a year ago.

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