Philippine Jobless Rate Falls Slightly To 3.1%

(RTTNews) - The Philippines' unemployment rate decreased unexpectedly in December to the lowest level in six months, preliminary figures from the Philippine Statistics Authority showed on Thursday.

The unemployment rate dropped to 3.1 percent in December from 3.2 percent in November. Meanwhile, the rate was expected to rise to 3.3 percent.

In the corresponding month last year, the rate was also 3.1 percent.

The number of unemployed people declined to 1.63 million in December from 1.66 million in the previous month.

Data showed that the employment rate stood at 96.9 percent versus 96.8 percent in November.