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PH has worst unemployment rate despite high GDP growth – Ibon
PH has worst unemployment rate despite high GDP growth – Ibon
MONDAY, 30 MAY 2016 – An independent research group said the Philippines still has the “worst” unemployment rate in Asia despite posting a 6.9-percent growth in gross domestic product.
In a statement, Ibon said economic growth “should not be used to divert public attention from fundamental problems of chronic joblessness and poverty.”
Citing the latest labor force survey data, Ibon said the unemployment rate in the country was set at 5.8 percent in January 2016, higher than slower-growing economies like China (4 percent), Vietnam (2.3 percent), Indonesia (5.5 percent), Malaysia (3.5 percent), and Thailand (1 percent).