By Brian Jules Campued
The government remains committed to creating more high-quality jobs for Filipinos by investing in human capital, reinvigorating industry and priority sectors, and pushing for infrastructure development, the National Economic and Development Authority (NEDA) Sec. Arsenio Balisacan said Thursday.
Balisacan issued the statement following the April 2024 Labor Force Survey released by the Philippine Statistics Authority, which reported a slight uptick in the country’s unemployment rate during the said month at 4.0% from 3.9% in March.
This corresponds to about 2.04 million jobless Filipinos in April, still lower than the estimated 2.26 million individuals recorded during the same month last year.
The employment rate, on the other hand, rose to 96.0%, or around 48.36 million workers, in April this year from 95.5% estimated, in April 2023 or 48.06 million Filipinos.
According to the PSA report, the sub-sectors that recorded the largest employment include accommodation and food service activities (+638,000), construction (+378,000), transportation and storage (+289,000), manufacturing (+285,000), and other services (+200,000).
Meanwhile, the Labor Force Participation Rate (LFPR) in April 2024 was registered at 64.1%, or about 50.40 million Filipinos aged 15 and above who were either employed or unemployed — lower than the estimated 65.1% in April last year.
The youth LFPR also declined to 32.6% from 34.7% as more young people opted to study.
“However, the underemployment rate increased to 14.6% from 12.9%, equivalent to 833,000 more underemployed individuals, due to the higher number of invisibly underemployed,” Balisacan said.
The NEDA chief noted Executive Order No. 59, signed by President Ferdinand R. Marcos Jr. which would further encourage investments and job creation in the country by expediting the implementation of the infrastructure flagship projects and improving the ease of doing business.
“The government’s massive infrastructure push is expected to create opportunities in several priority sectors, such as energy, logistics, and tourism. The government will also explore opportunities for quality job growth in the mining sector, leveraging available technologies to develop value-adding activities such as mineral processing,” he said.
“Investing in human capital — improving education, healthcare, and social services — remains a top priority. The government is currently drafting the Trabaho Para sa Bayan (TPB) Plan, which will serve as the country’s comprehensive employment generation and recovery master plan. It aims to address unemployment, underemployment, informal working arrangements, and other labor market challenges,” he added.
Balisacan said the TBP Plan focuses on enhancing the employability and competitiveness of Filipino workers through upskilling and reskilling initiatives. Support for micro, small, and medium enterprises and industry stakeholders is also integral to the plan.
“The government aims to assist Filipino workers in the digital age. Initiatives include reducing job search duration, upskilling the workforce, and facilitating the transition towards higher-income jobs. The urgent passage of next-generation reforms, including the Konektadong Pinoy Bill, will play a crucial role in opening up more work opportunities and developing digital skills among the workforce,” Balisacan said. – av