{
  "id": 6224156,
  "title": "Philippine jobless rate surges to four-year high as growth slows",
  "url": "https://urgent.news/2026/09/08/philippine-jobless-rate-surges-to-four-year-high-as-growth-slows",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T03:36:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/08/philippine-jobless-rate-surges-to-four-year-high-as-growth-slows"
  },
  "original_language": "en",
  "account": "The Philippine jobless rate reached a four-year high of 6% in July, as economic growth slowed due to a corruption scandal and the global oil shock, according to the National Statistics Office. This rate is identical to the one recorded in June 2022, when the economy was still recovering from the COVID-19 pandemic. Metro Manila, the capital region, reported the highest jobless rate of 8.2%, attributable to a large influx of fresh graduates into the labor market. Over 3.7 million people joined the workforce over the past year, with more than a million of them being students aged 15-24 who transitioned from education.\n\nPresident Ferdinand Marcos Jr.'s administration is currently facing pressure from the rising cost of living, as the Philippines grapples with the highest inflation in Southeast Asia. Many companies are hesitant to hire more workers due to the slower economic expansion. The Philippine economic growth slowed to 2.3% in the second quarter of the year, and overall confidence among businesses plunged to -20.3% in July from zero in June, as reported by the central bank survey.\n\nThe central bank predicts that fewer firms will plan to hire additional workers over the next 12 months due to forecasted softer growth and high inflation. Economic Planning Secretary Arsenio Balisacan emphasized the need to intensify efforts to attract investments, particularly those that create quality jobs, as more Filipinos are actively participating in the labor market.",
  "summary": "The July unemployment rate stood at 6%, matching the rate in June 2022, when the economy was recovering from Covid-19.",
  "key_points": [
    "Philippine jobless rate hits 6% in July, four-year high",
    "Economic growth slows due to corruption scandal and oil shock",
    "Metro Manila's jobless rate reaches 8.2%"
  ],
  "editors_take": "The surge in the Philippine jobless rate to a four-year high reflects growing economic challenges, including slower growth and high inflation, that are deterring businesses from hiring and pressuring the administration.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Philippine jobless rate surges to four-year high as growth slows",
        "url": "https://urgent.news/2026/09/08/philippine-jobless-rate-surges-to-four-year-high-as-growth-slows-6229549",
        "published": "2026-09-08T03:36:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}