Marcos Jr. says unemployment rate drop shows admin’s efforts to create jobs

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Wednesday attributed the recent drop in the country’s unemployment rate to his administration’s efforts at job creation.

Marcos’ comments came after the Philippine Statistics Authority reported that the unemployment rate in the Philippines stood at 5% in September this year, bringing the number of jobless Filipinos down to 2.5 million, which is 183,000 lower than the 2.68 million jobless Filipinos recorded in August.

“Ever since we started with the economic team, even before I took office, we really concentrated on the creation of jobs,” Marcos said in a statement.

“And that’s why it is having the effect now of bringing down our employment rate,” he added.

The number of jobless Filipinos recorded in September was also lower by 1.78 million from the 4.28 million logged in the same period in 2021, according to the PSA, which surveyed 10,959 families nationwide.

“This is a good sign. The economy is trying very hard to grow,” Marcos said.

“We just have to be able to tolerate the shocks that are coming from abroad. But otherwise, the economy is moving in the right direction,” he added.

While acknowledging that inflation remains worrisome, Marcos still expressed optimism that the country could sustain the positive momentum with the unemployment rate, noting that accelerating job generation has been among his administration’s top priorities.