Unemployment in Philippines
Philippines - UnemploymentThe economy lost traction in the first quarter. The deceleration was partly due to notable slowdowns in government consumption and fixed investment growth, largely the consequence of the prolonged budget impasse which delayed spending. More worryingly, the external sector softened amid weak electronics exports. On a more positive note, private consumption gained steam, supported by ebbing price pressures and solid remittances. Turning to Q2, the manufacturing PMI dipped again in April. Nevertheless, despite the soft manufacturing sector, growth is likely to accelerate in the second quarter; in mid-April, President Duterte finally signed the 2019 budget into law, which should unleash pent-up spending. On the political front, Duterte appears to have secured a resounding victory in May’s midterm elections, which should provide policy continuity and allow him to continue with a major infrastructure push.
Philippines - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Philippines Unemployment Chart
Source: National Statistics Office.
|Bond Yield||5.28||-4.11 %||Jun 14|
|Exchange Rate||52.08||0.02 %||Jun 14|
|Stock Market||7,990||0.66 %||Jun 14|
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June 5, 2019
Consumer prices increased 0.17% over the prior month in May, down from the 0.25% increase registered in April.
June 3, 2019
The manufacturing Purchasing Managers’ Index (PMI), produced by Nikkei and IHS Markit, inched up to 51.2 in May from 50.9 in April.
May 16, 2019
Cash remittances from Overseas Filipino Workers (OFW) totaled USD 2.5 billion in March, which was a 6.6% increase from the same month a year prior.
May 11, 2019
Merchandise exports grew 0.4% over the same month a year prior in April, rebounding from the revised 1.8% contraction logged in March (previously reported: -2.5% year-on-year) and ending four consecutive months of contractions.
May 9, 2019
At its 9 May monetary policy meeting, the Central Bank of the Philippines (BSP) cut the overnight reverse repurchase facility (RRP) to 4.50% from 4.75%, unwinding some of last year’s aggressive 175 basis point tightening.