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Unemployment Climbs Vindicating BSP.

PHILIPPINES


  • Unemployment rose dramatically in July according to release from the Philippines Statistics Authority.
  • Unemployment rose to 4.7% in July, up from 3.1% in June.
  • Earlier in the week, Philippines CPI had printed weaker than expected, questioning the reasoning for the cut recently by the BSP.
  • Today’s number vindicates that cut, showing that the challenges ahead for the economy remain.

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