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Article: News analysis: Philippines tackles high unemployment rate amid economic crisis

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Xinhua News Agency
Article date:
March 1, 2009
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News analysis: Philippines tackles high unemployment rate amid economic crisis

By Prime Sarmiento

MANILA, March 1 (Xinhua) -- Unemployment rate in the Philippines is expected to remain high in the next few months as the global economic crisis crimps business activities, analysts said.

The Philippines has one of the highest unemployment level in Southeast Asia, standing at 6.8 percent as of October 2008, according to the country's National Statistics Office.

The global economic turmoil has dampened demand in Japan, the United States and Western Europe -- large markets for Philippine export goods, services and migrant workers. As these markets contracted, so did the demand for Philippine ...

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