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    Posted June 10, 2014 by

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    Unemployment rate drops, says Phl

    THE Philippine government on Tuesday expressed confidence that the country would register a higher gross domestic product (GDP) in the later part of the year, as unemployment rate decreased during the second quarter.
    “We share the optimism that these positive indicators bode well for a higher GDP growth rate in the succeeding quarters,” Presidential Communications Operations Office Secretary Herminio Coloma, Jr. said.
    The National Economic Development Authority (NEDA) has reported that the unemployment rate dropped to 7 percent in April 2014 from 7.6 percent in the same month last year.
    It said underemployment improved as well to 18.2 percent from 19.2 percent over the same period.
    “This growth has brought about a total of 1.7 million additional employed persons. According to NEDA Secretary (Arsenio) Balisacan, the improvement in employment is broad-based, covering agriculture, industry, and the services sectors,” Coloma added.
    The Philippines’ GDP for the first quarter of the year was registered at 5.7 percent.
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