President Ferdinand R. Marcos Jr. on Friday was elated by the May 2023 Labor Force Survey which showed that unemployment and underemployment rates in the country are now in single digits.
“Well, ang una talagang priority sa atin is maghanap ng trabaho. Kaya’t lahat naman ng ating ginagawa sa ekonomiya ay para mabigyan hindi lamang ‘yung underemployed na klase na trabaho kundi ‘yung magandang trabaho na may future, may benefits… Kaya’t nakakatuwa naman dahan-dahan ay umaakyat ‘yung numero ng employed dito sa Pilipinas,” the President during a media interview after attending the Philippine Army Officer Candidate Course graduatin ceremony in Taguig City.
“Ang sinimulan namin last year ng 17 percent halos ang unemployment rate. Ngayon, mga 6 percent na lang. Kaya’t iyon pa rin, iyon pa rin ang… puno’t dulo nitong lahat ay trabaho talaga,” he added.
The chief executive pointed out that there has to be a continuous economic activity to generate jobs which would in turn spawn growth and development in the country.
“Kailangan magkaroon ng economic activity para magkaroon ng trabaho ang ating mga kababayan. And slowly, slowly. Hindi naman basta’t sinabi natin, mangyayari. Kaliangan marami pa tayong kailangan talagang gawin,” the President noted.
“The bureaucracy, the economy are complicated systems that we have introduced in terms of policy, in terms of digitalization, in terms of the new skills and processes that we want to adopt,” he said.
He also said creating a robust and vibrant economy will entail not only bringing in foreign investments, but also local investments as well.
“Issues that have been raised in terms of making the Philippines a more investor-friendly place. And sometimes ‘pag sinabi nating investor lagi nating iniisip foreign investor. Hindi lamang foreign investor. Iyong local, marami namang local na gustong mag-invest,” the President said.
In an earlier statement, Socioeconomic planning Secretary Arsenio Balisacan said the Marcos administration has managed to bring down the underemployment and unemployment rates in the second quarter of 2023 due to the economic strategies and policies to bring in more local and foreign investments in the country.
Citing figures from the Philippine Statistics Authority (PSA), Balisacan said the country’s unemployment rate improved to 4.3 percent in May 2023 from 6.0 percent in the same period last year.
The National Economic and Development Authority (NEDA) chief also noted the underemployment rate went down to 11.7 percent from 14.5 percent in May 2022, which translated to 1.0 million fewer underemployed persons in the Philippines.
Balisacan assured the public that the Marcos administration will continue to push for and implement game-changing reforms to improve the country’s business investment climate, especially for foreign investors, and help in sustaining current labor market gains.
The NEDA chief noted that “to achieve our near and medium-term targets, it is important that the government remains committed to fostering a favorable investment climate to address critical constraints to high-quality job creation.”
He added that establishing an enabling regulatory environment to improve the ease of doing business and encourage innovation remain top priorities to attract investors who have the technology and resources to bring in high-quality jobs.
Balisacan also urged individuals to enroll in upskilling and lifelong learning programs offered by both government and private education and training institutions to prepare for the jobs of the future and stay globally competitive.
“We welcome partnerships with the private sector, including international organizations, to ensure that our government services, particularly with respect to employment facilitation, upskilling or retooling, and promoting workers’ protection, are on the same level with global best practices,” he said. #
