Key socio-economic reforms and initiatives of President Ferdinand R. Marcos Jr.’s government bore positive results as the latest Labor Force Survey (LFS) showed improvements in the country’s employment and unemployment figures.

According to the LFS, the employment rate in the Philippines rose to 96.3% in September this year from 95.5 % for the same period in 2023.

The increase translates to an additional 2.2 million workers employed, the Department of Labor and Employment (DOLE) said.

On the other hand, the unemployment rate dropped to 3.7% in September last year from 4.5% in the same period in 2023.

“[The decline] is a notable outcome of the continuous adoption of crucial socio-economic reforms and initiatives of the national government under the leadership of President Ferdinand R. Marcos, Jr.,” Labor Secretary Bienvenido Laguesma explained.

Further, the Labor Force Participation Rate increased to 65.7% from 64.0%, with a notable rise among prime working-age individuals (+1.1 million) and women (+1.2 million), the LFS said.

Female LFPR improved to 55.7%, with fewer women citing household duties as a barrier, it added.

Moreover, the survey showed the underemployment rate increased slightly to 11.9% from 10.7% in September 2023.

“The increase in the underemployment rate from 10.7 percent to 11.9 percent year-on-year for the same period is a positive indication that there are more available jobs,” Laguesma said.

“(B)ut quality of jobs remains to be a challenge,” he added.

Laguesma said “efforts to create and generate quality jobs will continue to be a top priority and will be aggressively pursued in collaboration with the private sector.”

Meanwhile, the government is focusing on upskilling workers, especially in digital technologies, in collaboration with the private sector and academic institutions.

Passage of bills such as the Konektadong Pinoy Bill, Lifelong Learning Bill, and Enterprise Productivity Act is seen as crucial to improving workforce employability.

To be helpful is the Trabaho Para sa Bayan (TPB) Plan, a 10-year roadmap to boost employment, attract investments, and improve labor governance. | PND