Philippine Daily Inquirer
3:11 pm | Tuesday, June 10th, 2014
MANILA—The country’s unemployment rate fell at the end of April as economic growth finally resulted in the significant creation of new jobs, government data released Tuesday showed.
Unemployment fell to 7 percent at the end of April from 7.6 percent in the same month last year, the National Economic Development Authority (Neda) said. But the figure did not take into account the effects of Supertyphoon Yolanda, particularly in the province of Leyte.
Gains were reported in all major sectors of the economy, namely agriculture, industry, and services, according to Neda.
“This broad-based growth provides a good indicator of the quality of the country’s economic performance in the second quarter of 2014,” Socioeconomic Planning Secretary Arsenio Balisacan said.
“This also backs the government’s target of 6.5 to 7.5 percent gross domestic product growth for the full year,” he said.
The jobs report this week, however, excluded the direct effect of Yolanda.
Balisacan said the nationwide Labor Force Survey (LFS) was not conducted in Leyte, given the extent of the devastation the province was still dealing with.
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