By Filane Mikee Cervantes

(PNA file photo)

MANILA – Speaker Martin Romualdez on Friday said the country’s improved employment rate, as shown by the drop in the jobless rate to a five-month low in November 2024, is a result of the government’s economic policies.

In a news release, Romualdez attributed the decline in joblessness figures to the continued expansion of the economy under President Ferdinand R. Marcos Jr.’s administration.

“The right economic policies are driving our growth and generating jobs for jobless Filipinos. We are happy for those who have found employment and who are working longer hours than before,” Romualdez said.

Preliminary results from the Philippine Statistics Authority’s (PSA) November Labor Force Survey revealed unemployment had fallen to 3.2 percent in November last year from 3.9 percent the previous month, equivalent to 1.66 million jobless Filipinos.

The survey also showed that underemployment rate fell to 10.8 percent in November from 12.6 percent in October.

Romualdez noted that for those still unemployed, the government offers support through programs like the Ayuda para sa Kapos ang Kita Program (AKAP) and the Assistance to Individuals in Crisis Situation (AICS), both administered by the Department of Social Welfare and Development (DSWD).

The Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) initiative of the Department of Labor and Employment (DOLE), as well as the training and retooling opportunities from the Technical Education and Skills Development Authority (TESDA), are also available, he added.

Romualdez reaffirmed the House of Representatives’ commitment to working with the current administration in sustaining economic growth and generating more employment.

“It’s a big challenge, which we hope to successfully address for the benefit of all of our people,” he said.

The National Economic and Development Authority (NEDA) earlier said the government will remain focused on prioritizing job quality and income improvements for Filipinos.

“Our labor market remains robust, with consistently high employment rates and reduced underemployment. The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy,” NEDA Secretary Arsenio Balisacan said.

Balisacan emphasized the importance of encouraging business upgrading and skills training programs to ensure that jobs offer competitive wages while improving worker productivity.

NEDA also underscored a multifaceted approach to enhancing the labor market, including investments in quality job-generating sectors, workforce mobility, and improved employment facilitation services.

“The government needs to facilitate the adoption of alternative work arrangements to account for workers’ evolving preferences while considering organizations’ emerging demands,” Balisacan added.

He cited the timely implementation of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act and the Enterprise-Based Education and Training (EBET) Framework Act as key to improving the business climate, attracting more investments, and generating additional employment opportunities. (PNA)