Saturday, 17 December 2011 00:00
Malacanang welcomed on Thursday the recent Labor Force Survey of the National Statistics Office (NSO) showing the decline of the unemployment rate in the country for October this year from 7.1 percent to 6.4 percent.
In a statement, Presidential Spokesperson Edwin Lacierda said that the decrease of the unemployment rate shows that the government’s efforts to create an environment where business can grow are bearing fruit.
“In concrete terms, this translates to 2.1 million new jobs, more than double the 1 million jobs created by October of last year. For the entire 2011, the Labor Force Survey says 1.2 million new jobs have been created,” Lacierda said.
“These job numbers reflect a sustained optimism and investment in our country despite the economic turmoil being experienced in other parts of the world. Clearly our efforts to create an environment where business can grow are bearing fruit,” he added.
The latest Labor Force Survey released today indicated that the country’s unemployment rate for the month of October dropped to 6.4 percent from 7.1 percent in the same period last year.
The National Capital Region posted the highest unemployment rate at 10.4 percent while Autonomous Region in Muslim Mindanao (ARMM) posted the lowest at 2.3 percent, according to the survey.
“Job creation is one of the most concrete ways in which the Aquino administration is fulfilling its promise to combat poverty and to empower our countrymen,” Lacierda said.
“In stark contrast to the irresponsible rhetoric yesterday of those who have been called to account for their official impunity, the government continues its job—with dedication to upholding the true interests of the people,” he said.
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