PH unemployment rate forecast to hit 13-yr high in Q2

THE enhanced community quarantine (ECQ) is likely to push the Philippines’ unemployment rate to its highest in 13 years, Japan’s global investment bank Nomura warned on Monday.

In a report, Nomura said based on the 1.04 million displaced workers reported by the government recently, it estimated that the “unemployment rate has already jumped to 7.5 percent after falling to a record-low 4.8 percent last year.”