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On Thursday, President Ferdinand R. Marcos Jr. praised a study that showed the nation’s employment rate is gradually returning to the 2019 pre-pandemic levels.

According to data from the Philippine Statistical Authority (PSA), the employment rate in the nation increased to 95.2% in January 2023 due to increases in employment in the services and agricultural sectors, adding 4.1 million new workers to the labor force.

From 43.3 million in January 2022, the total employment has increased to 47.4 million as a result.

The percentage of people in the workforce increased to 64.5 percent, or 49.7 million Filipinos, of which 20.6 million are women.

More and more people are getting good work, “Padami nang padami ang nagkakaroon ng magandang trabaho!” Marcos stated on his official Twitter and Facebook pages.

“Bumaba pa lalo ang ating employment rate, underemployment rate, at tumaas sa 95.2 percent mula sa 93.6 percent noong Enero 2022. I’m telling you, 4.1 million Filipinos are currently employed in our labor force, up from 93.6 percent in January 2022. This represents a further decline in our unemployment and underemployment statistics. It implies that 4.1 million more Filipinos have joined our labor force),” he continued.

Marcos promised that the government will keep working on initiatives and programs to help the Filipino people escape poverty.

“Tayo’y magpupursigi hanggang sa tuluyan na nating mawakasan ang kahirapan (We will persevere until we ultimately end poverty)!” he remarked.

Arsenio Balisacan, secretary of the National Economic and Development Authority (NEDA), claimed in a separate interview that the easing of pandemic lockdowns and subsequent business reopenings are to blame for the improving job situation.

Because many enterprises were still only partially open in January 2022, Balisacan reminded Palace reporters that the improvement in the employment situation was largely the result of the economy’s continued opening during this time from January 2022 to January 2023.

He also expressed confidence that the administration’s initiatives to entice more foreign investment into the nation would contribute to the creation of additional jobs.

Of course, I also hope that the seven months since the new administration took office have more or less signaled an improvement in the business climate because the President has made it plain that he is open to doing business. He is welcoming commerce, particularly foreign investment, into the Philippine economy, the source continued.

The Philippine Development Plan (PDP) 2023–2028 of the Marcos government seeks to “revive job creation, accelerate poverty reduction by repositioning the economy on a path of rapid growth, and effect economic transformation.”

By 2025, the Philippines is expected to have an upper middle-income status, according to the PDP 2023-2028.

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Cebuano English Filipino