Metro Manila , Philippines — The number of jobless Filipinos hit 2.18 million in November, a decrease from the 2.24 million estimated a month prior, the Philippine Statistics Authority (PSA) reported on Friday.

This is equivalent to a national unemployment rate of 4.2%.

Businesses were expected to hire seasonal workers during the fourth quarter as it is their strongest period amid the holiday spending.

Higher prices, however, still haunted Filipino consumers, with the inflation rate spiking to 8% in November.