Government Priority: High-Paying Jobs

The government's top priority is to create high-quality and well-paying jobs to address the growing issue of vulnerable employment, particularly among self-employed and unpaid family workers, according to the National Economic and Development Authority (NEDA).

The number of underemployed persons in July 2023 was recorded at 7.10 million, an underemployment rate of 15.9 percent, equivalent to 562,000 additional underemployed persons, higher than the 13.8 percent underemployment rate in July 2022.

This statement follows the release of the July 2023 Labor Force Survey (LFS), which showed that the unemployment rate in the country further decreased to 4.8 percent in July 2023 from 5.2 percent in the same month last year.

However, the labor force decreased by 3.1 million in July 2023 compared to the previous year. This resulted in a labor force participation rate of 60.1 percent, down from 65.2 percent in July 2022. Meanwhile, total employment declined by 2.8 million in July 2023.

Moreover, the number of underemployed persons in July 2023 was recorded at 7.10 million, leading to an underemployment rate of 15.9 percent, equivalent to 562,000 additional underemployed persons.

This rate is higher than the 13.8 percent underemployment rate in July 2022.

“The entire government remains committed to improving the business climate in the country to attract more investments, which will result in the creation of high-quality and well-paying jobs,” said NEDA Secretary Arsenio M. Balisacan.

He also emphasized the importance of expediting the implementation of the FY 2023 budget and the government’s infrastructure programs, highlighted by the ‘Build-Better-More’ infrastructure flagship projects, aimed at strengthening the country’s competitiveness and generating more job opportunities for workers.

Lastly, Balisacan reiterated the priority of the Marcos Administration to roll out programs aimed at enhancing the skillsets of Filipino employees.

“We will focus on expanding upskilling and retooling programs to improve the country’s labor market performance. These are critical in assisting members of the workforce, particularly those in vulnerable employment, to enhance their employability and enable them to transition across industries and occupations,” he added.

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