PHILIPPINE jobless rate hit a three-month high in June, signaling weaker labor market conditions that could weigh on household spending and complicate the government’s efforts to sustain economic growth.
The unemployment rate rose to 4.9% from 3.7% a year earlier, with 2.59 million Filipinos out of work, the Philippine Statistics Authority (PSA) reported on Thursday.
The June jobless rate was up slightly from 4.8% in May, and was highest in three months or since the 5% in March.
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