Unemployment in Philippines
Philippines - UnemploymentThe economy shrank sharply in Q3 according to recent data, albeit at a softer rate than Q2’s record downturn. Private consumption and fixed investment continued to collapse amid a weak labor market and suppressed sentiment. Moreover, fiscal support dried up, with government spending growth slowing markedly. The external sector contributed to GDP, although this was chiefly due to a collapse in imports on depressed demand. Turning to Q4, conditions are likely still downbeat. The manufacturing PMI slipped back into contractionary territory in October on a renewed fall in new orders. Moreover, Covid-19 restrictions linger, while the country has been lashed by devastating typhoons in recent weeks, causing economic disruption and likely hurting the agricultural sector. In addition, although a USD 3.4 billion stimulus package was introduced in September, spending execution has so far been lackluster.
Philippines - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Philippines Unemployment Chart
Source: National Statistics Office.
|Bond Yield||4.44||-4.11 %||Dec 27|
|Exchange Rate||50.66||0.02 %||Jan 01|
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June 14, 2021
Remittances totaled USD 2.3 billion in April, representing a 12.7% increase in annual terms, coming above March’s 4.9% rise.
June 9, 2021
Merchandise exports soared 72.1% over the same month last year in April (March: +31.6% yoy).
June 4, 2021
Consumer prices increased a seasonally-adjusted 0.08% in May over the previous month, swinging from April's 0.08% drop.
Philippines: Manufacturing PMI edges up in May pointing to near stabilization in manufacturing activity
June 1, 2021
The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, edged up to 49.9 in May, following April´s 49.0.
May 16, 2021
Remittances totaled USD 2.5 billion in March, representing a 4.9% increase in annual terms, edging down from February’s 5.0% rise.