Philippine shares closed the week on a strong note on Friday amid renewed investor optimism on the country’s recovery from the COVID-19 pandemic-induced recession.
The benchmark PSEi closed at 7,002.26, higher by 38.25 points or 0.55% from the previous trading session. The broader All Shares increased by 19.54 points or 0.46%to close at 4,294.97.
The PSA reported that the unemployment rate stood at 7.7% in May, lower than the 8.7% recorded in April.
The 7.7% unemployment rate is equivalent to 3.73 million adult Filipinos — 15 years old and above — without jobs, a slight improvement from the 4.14 million jobless individuals in April.
Source: GMA News Online 02 July 2021