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Philippines’ unemployment rate drops to 4.3 pct in May

MANILA, July 7 (Xinhua) — The Philippines’ unemployment rate in May dropped to 4.3 percent from 4.5 percent in April, with 2.17 million labor force out of job, the Philippine Statistics Authority (PSA) said on Friday.

The May unemployment rate was the second lowest since April 2005, following the 4.2 percent unemployment rate in November 2022, PSA head Dennis Mapa told a news conference.

National Economi