Easing unemployment keeps stocks in green

The local stock market climbed for a second straight session, buoyed by the country’s August labor market data.

- By RICHMOND MERCURIO

The benchmark Philippine Stock Exchange index rose by 0.25 percent or 14.91 points to end at 6,098.74 yesterday.

The broader All Shares index also advanced by 0.31 percent or 11.43 points to 3,684.65.

RCBC chief economist Michael Ricafort said the market was boosted after a generally better local employment data.

The Philippine Statistics Authority reported yesterday that unemployment rate dropped to 3.9 percent in August from 5.3 percent in July.