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World

Philippine jobless rate hits record 17.7pc in April due to pandemic

  • April's unemployment rate, which is 7.3 million people without jobs, compares with 5.3pc in January and 5.1pc in April last year.
  • "We should not lose sight of the fact that this loss in employment is really temporary," Economic Planning Undersecreta
June 05, 2020

MANILA: The Philippines' unemployment rate surged to a record 17.7pc in April, the statistics agency said on Friday, as millions lost their jobs due to a pandemic-induced lockdown that battered the economy.

The Philippines, which before the pandemic was one of Asia's fastest growing economies, is facing its biggest contraction in more than three decades after the new coronavirus shuttered businesses and crushed domestic demand.

April's unemployment rate, which is 7.3 million people without jobs, compares with 5.3pc in January and 5.1pc in April last year.

"We should not lose sight of the fact that this loss in employment is really temporary," Economic Planning Undersecretary Rosemarie Edillon said in an online news conference.

The lockdown in the capital, Manila, which was one of the world's longest and strictest, was relaxed as of June 1 to allow much-needed business activity to resume and soften the economic blow of the coronavirus, which has infected more than 20,000 in the country.