More jobs generated, unemployment lowest in 10 years

“The improved employment numbers also translated to better quality jobs as around 1.03 million of the total employment generated in October 2014 were considered full time. Consistent with this is the increase in remunerative wage and salary workers, particularly in private establishments,” Socioeconomic Planning Secretary and National Economic and Development Authority vice-chair Arsenio M. Balisacan said.

NEDA reported that approximately 1.05 million jobs were generated since October of last year, a 2.8 increase from 37.8 million of last year.

Also according to the October report, unemployment rate is at its lowest in ten years. “With the broad-based growth in employment, we are provided an optimistic outlook on the country’s economic performance in the fourth quarter of 2014,” Balisacan added.

On other news regarding economy, Philippines marked the 21st positive credit rating upgrade since the administration of President Aquino started. Moody’s Investors Service upgraded Philippine credit rating by one notch to Baa2, with outlook seen as stable.