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The unemployment rate went down by one percentage point to 3.5 percent in February from 4.5 percent in January, the Philippine Statistics Authority (PSA) said Thursday.

The underemployment rate declined to 12.4 percent from 13.9 percent in the previous month, it added. This showed continuing quality in jobs, said National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan in a statement.

Balisacan said the improved labor market was due to the ''fast-tracked implementation of the government's infrastructure flagship projects, housing program, and recovery of the tourism sector.

The unemployment rate means there are 1.8 million jobless Filipinos from 2.15 million in January. Jaspearl Tan/DMS