MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr.’s administration remains committed to improving the country’s job quality following the slight increase in the unemployment rate in the Philippines, according to National Economic and Development Authority (Neda) Secretary Arsenio Balisacan.
Balisacan on Wednesday said that the country’s labor market remained strong based on the latest survey of the Philippine Statistics Authority (PSA), which said that the unemployment rate inched up to 4.5 percent in September from 4.4 percent in August.
“The government will continue to improve the country’s investment climate to attract businesses that generate quality employment. Executive Order No. 18, s. 2023, that created green lanes for strategic investments has been issued for this purpose,” Balisacan said in a memorandum to the President.
In a Palace statement, Balisacan explained that there is a need to digitalize further and promote innovation among micro, small, and medium enterprises.
Balisacan also said that alternative work arrangements are needed to address declining labor force participation.
“Increasing the workforce’s employability by expanding training programs in terms of both reach and content remains a priority. In particular, enterprise-based training is highly encouraged to address the high youth unemployment rate,” added Balisacan.