DOLE attributes decrease in unemployment to growing PH economy

MANILA: The decrease in the number of unemployed Filipinos is due to the country's growing economy, the Department of Labor and Employment (DOLE) said Tuesday. Labor Secretary Bienvenido Laguesma issued the statement after the Philippine Statistics Authority (PSA), in its January 2024 Labor Force Participation Survey, reported that the number of unemployed Filipinos went down to 2.15 million in January this year from the 2.38 million recorded in the same month last year. "Ang pagbabang ito ay napakalaking bagay at pagpapatunay ng paglakas ng ating ekonomiya. Ang kasalukuyang unemployment rate ay nananatiling sa loob ng 4 to 5 percent target alinsunod sa Philippine Development Plan 2023-2028 (This decrease in unemployment is something big and is a proof of that our economy is getting stronger. The current unemployment rate is still within the 4 to 5 percent target in accordance with the Philippine Development Plan 2023-2028)," he added. He added that the PSA report is based on various factors that affect th e changes in the field of work and employment. 'Una, ang 37.44 percent ng kabuuang walang hanapbuhay sa huling tala ay mga kabataan edad 15 to 24, na kung ating susuriin ay maaaring bumalik na sa mga paaralan. Kaya naman ito ay maituturing na isa sa mga dahilan ng pagbaba ng labor force participation rate (First, the 37.44 percent of the total number of unemployed Filipinos aged 15 to 24, if we look at it closely, they might return to schools. This is among the reasons for the decline in the labor force participation rate),' Laguesma said. Laguesma said the DOLE continues to push for programs that would assist investors and micro, small, and medium enterprises and enhance workers' skills through appropriate trainings, pursuant to the Philippine Development Plan 2023-2028, the Philippine Labor and Employment Plan 2023-2028 and the Trabaho Para sa Bayan Act. Youth employability programs such as the Special Program for Employment of Students (SPES), Government Internship Program (GIP) and JobStart Philippines are being widely implemented by DOLE regional offices, he added. The labor chief noted that part of the assistance provided by DOLE are programs for those who want to venture into businesses that can help their families and communities. 'That's why we invite everyone to register on our PhilJobNet (https://philjobnet.gov.ph) or you can go to the nearest Public Employment Service Office or PESO in your localities for important and useful information about job vacancies located near your area,' Laguesma said. Source: Philippines News Agency