Manila: The continued decline in the Philippines' unemployment rate signals 'growing strength and stability' in the economy, House of Representatives Speaker Martin Romualdez said Tuesday.

According to Philippines News Agency, Romualdez attributed the decline to President Ferdinand R. Marcos Jr.'s push for creating sustainable economic opportunities for Filipinos. "This improvement in our labor market conditions reflects the growing strength and stability of our economy. It is proof that our policies are prudent and uplifting our people's lives," Romualdez said. "Our President's clear vision for economic growth is bearing fruit."

The Philippine Statistics Authority (PSA) on Tuesday reported that the country's unemployment rate dropped to 3.8 percent in February from 4.3 percent in January, with the number of jobless Filipinos falling to 1.94 million from 2.16 million.

Romualdez said the increase in employment to 96.2 percent in February with 49.15 million Filipinos employed is a notable step toward inclusive growth. "With 49.15 million Filipinos now employed, we are seeing progress not just in numbers but in the lives of ordinary citizens," he said.

The top House official also noted the significance of the decline in underemployment, which fell from 13.3 percent in January to 10.1 percent in February, equivalent to 4.96 million individuals. "Fewer Filipinos now feel the need to look for additional work. This means better quality jobs and improved working conditions are becoming more accessible," he said, adding that the key now is to maintain the momentum.