President Ferdinand “Bongbong” Marcos Jr. on Wednesday attributed the recent drop in the country’s unemployment rate to his administration’s job creation efforts.

The Philippine Statistics Authority (PSA) on Tuesday reported that the country’s unemployment rate stood at 5 percent as of September 2022, which brought the average unemployment rate in 2022 closer to the pre-pandemic level, which was at 5.1 percent in 2019.

The drop in the unemployment rate meant a drop from 2.68 million jobless Filipinos in August to 2.5 million in September.

The figure recorded in September was also lower by 1.78 million from the 4.28 million logged in the same period last year. This was based on a PSA survey of 10,959 families nationwide.

According to PSA, the average unemployment rate in 2022 is already close to the pre-pandemic level, which was at 5.1 percent in 2019.

“Ever since we started with the economic team, even before I took office, we really concentrated on the creation of jobs, and that’s why it is having the effect now of bringing down our unemployment rate,” he said.

However, the president said the country still had to deal with inflation.

“This is a good sign. The economy is trying very hard to grow. We just have to be able to tolerate the shocks that are coming from abroad. But otherwise, the economy is moving in the right direction,” he added.

The sectors of manufacturing, education, public administration and defense, transportation and real estate saw the largest increase in employment numbers. John Ezekiel J. Hirro