PSEi down amid 5.3% unemployment rate

THE local bourse pulled back by 54.32 points to close at 5,934.27 after three straight days of gains due to negative signals from Wall Street and the higher unemployment rate in August which registered at 5.3 percent.

"For the month of August 2022, the unemployment rate was at 5.30 percent, higher than July 2022's 5.20 percent," said Clair Alviar, research associate at Philstocks Financial Inc. "But on the upside, the labor force participation rate, or the economy's active workforce, improved overall."