FILE PHOTO: Senator Grace Poe. Senate PRIB Photo
MANILA, Philippines — Senator Grace Poe on Wednesday said “focused and effective” solutions are needed to keep economic activities growing and ramp up employment in the country.
Poe issued the statement after the Philippine Statistics Authority (PSA) reported that the country’s unemployment rate worsened to 4.3% in December 2022 from the 4.2% recorded the month before.
The PSA also reported that the inflation rate in the country rose to 8.7% in January 2023, the highest rate since November 2008.
“Inflation and unemployment are a lethal combination. To give meaningful jobs to our people and sustain their families needs, focused and effective solutions are called for to keep economic activities growing,” the senator said in a statement.
Poe noted that laws such as the Public Services Act aimed at investments to support job generation and “bring in more quality services to Filipino consumers.”
She added that the government should boost financial aid and technical assistance to micro, small, and medium enterprises to help the sector, noting that they comprise about 90% of the businesses in the Philippines.
“The agriculture sector needs to focus as well in terms of investment. These investments will generate thousands of jobs and pave the way towards food security,” Poe said.
“Addressing the lack of jobs and livelihood will help our people overcome the high cost of living,” she added.