NextGen Day

Amenah Pangandaman, secretary of the Department of Budget and Management (DBM), stated that the government would continue to support the nation’s workforce even though the unemployment rate fell from 4.8 percent in February 2023 to 4.7 percent in March 2023.

Pangandaman said in a statement that the economic team would concentrate on empowering the Filipino workforce by producing quality jobs and employment opportunities, as per the directive of President Ferdinand R. Marcos Jr.

Pangandaman announced that steps would be taken to improve the financial and technical support provided to Filipino workers.

As part of our Agenda for Prosperity, she continued, “We will continue to invest and pour much-needed support to the Filipino workforce.”

She underlined a “huge improvement” in the unemployment rate since it was at 4.8 percent in February 2023 and 5.8 percent during the same period last year.

According to PSA data, the nation’s employment rate remained high in March 2023 at 95.3 percent, higher than the recorded employment rates from the previous year (94.2 percent) and the month before (95.2 percent).

As a result, there will be an anticipated 48.58 million people working as of March 2023, up 1.61 million from the estimated 46.98 million working in March 2022.

According to PSA, the underemployment rate in March 2023 will be at its lowest level since April 2005.

According to data, the nation’s underemployment rate decreased from 15.8 percent in the same month of 2022 to 11.2 percent in February 2023.

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