Unemployment in the Philippines soared to 17.7 percent in April, equivalent to around 7.3 million jobless Filipinos amid the COVID-19 pandemic, the Philippine Statistics Authority (PSA) announced on June 5.
Traffic in Manila of the Philippines (Photo: Xinhua/VNA)
Hanoi (VNA) – Unemployment in the Philippines soaredto 17.7 percent in April, equivalent to around 7.3 million jobless Filipinosamid the COVID-19 pa🅘ndemic, the Philippine Statistics Authority (PSA) announcedon June 5.
PSA head Claire Dennis Mapa said in a virtual media briefingthat this is a record high in the country’s unemployment rate, reflecting theeffects of COVID-19 economic shutdown to the local labour market. Philippine President Rodrigo Duterte has placed Metro Manilaand the rest of the main island of Luzon under lockdown since mid-March to stemthe spread of the virus. Luzon accounts for 56 percent of the country's populationand contributes 73 percent to the GDP. Other provinces in the central andsouthern Philippines also imposed similar restrictions. The PSA data showed that the Philippines’ inflation slightlywent down to 2.1 percent in May, as compared to 2.2 percent registered in theprevious month. The country’s inflation now stands at 2.5 percent. Also on June 5, the Department of Finance said that theWorld Bank and the country reached a loan agreement worth 500 million USD tosupport the poor and those affected by COVID-19. The fresh loan from the WB adds to a total financial supportof 4.85 billion USD secured by the Philippine government as of May 14. The country now has 20,382 confirmed COVID-19 cases,including 984 deaths./.
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Traffic in Manila of the Philippines (Photo: Xinhua/VNA) 
