Adi Joaquim Tolentino

The Philippine Statistics Authority expects improvements in the employment rate during the holiday season with new jobs being created by the increased economic activity.

Photo Courtesy of PSA/The Summit Express.

In a press briefing on Oct. 8, National Statistician Dennis Mapa said there would be an increase in the labor force as the participation rate jumped to 64.8 percent, a 1.3 percent increase compared to July.

“We have an expectation that there will be further increase both in labor force participation and employment in the last quarter,” Mapa noted.

He also noted the decline in the unemployment rate came from the entry of women into the workforce and their absorption into various industries. 

“One major factor we saw this August 2024 is that many women participated in the labor force and many of them were absorbed in the labor market,” he said.

The female labor force participation rate rose from 52.4 in July to 54.7 percent in August.

He also mentioned the easing inflation that fell to 1.9 percent in September.

"You know sa ating GDP, yung household final consumption expenditure, substantial noon over our total GDP. So kung maraming bumibili, particularly nitong last quarter natin, that would create jobs, particularly dito sa ating sales and services sector. Ang kanyang impact is positive. But of course, we will have to look at the figure by the end of September," he expressed. 

As inflation fell, the National Economic and Development Authority (NEDA) was optimistic about employment figures.

The underemployment rate in August dropped to 11.2 percent affecting 5.48 million people and was down 12.1 percent which acted on 5.78 million Filipinos in July.

 NEDA Secretary Arsenio Balisacan stated that the government is boosting employment by attracting job-generating investments, enhancing infrastructure, and implementing reskilling and upskilling programs for security and adaptability.

“The Marcos administration is tirelessly working to attract high-quality investments to the country, enhancing the business climate and ensuring that all investment pledges are fulfilled. This, along with efforts to prepare the labor force for market absorption, gives us confidence that we will achieve our PDP targets,” he said.

Balicasan also noted that the agency is finalizing the Trabaho Para sa Bayan Master Plan, a 10-year employment roadmap that would help generate at least three million jobs by 2028.

"The swift enactment and implementation of the Konektadong Pinoy Bill, and the expansion of upskilling programs are crucial for advancing the country’s digital transformation and harnessing opportunities presented by cutting-edge innovation," he said.

This survey and awaited plans are aligned with the targets set in the Philippine Development Plan (PDP) 2023-2028 as the inflation rate decreases and renews jobs for Filipinos.