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According to the National Economic and Development Authority (NEDA), the country’s net job creation in December 2021 indicates that the economy is on the mend.

According to the Philippine Statistics Authority, unemployment rose slightly to 6.6 percent in December 2021 from 6.5 percent in November 2021.

However, the bigger increase in the labor force participation rate, which rose to 65.1 percent from 64.2 percent, more than countered this. As a result of the relaxation of mobility limitations in December, roughly 800,000 more people were able to find jobs. This puts net job creation to 3.7 million more than before the outbreak.

As the quality of jobs improved, the underemployment rate fell to 14.7 percent in December, down from 16.7 percent in November.

“We were able to produce more and better jobs for the people by speeding up the vaccination campaign and safely reopening more areas of the economy.” “Now that we have halted the spread of Omicron and have reverted to Alert Level 2 in the National Capital Region and numerous provinces, we look forward to building on these accomplishments in 2022,” Socioeconomic Planning Secretary Karl Kendrick Chua said.

Chua also emphasized how the government’s efforts in implementing the Economic Development Cluster’s (EDC) 10-point agenda will assist restore more job possibilities, particularly in hard-hit industries like tourism and education.

The coronavirus disease 2019 (Covid-19) risk classification of countries into “green,” “yellow,” and “red” categories was temporarily stopped under Inter-Agency Task Force Resolution No. 159.

Fully vaccinated Filipinos and international tourists from visa-free nations would simply need to demonstrate a 48-hour negative reverse transcription-polymerase chain reaction (RT-PCR) test result before leaving their place of origin starting February 10.

Quarantine at a facility is no longer required for international incoming passengers who match certain criteria. This will aid in the rehabilitation of the tourism industry and the return of tourism-related jobs.

According to Chua, expanding the immunization program to include children will assist pave the way for the return of face-to-face lessons and the restoration of education sector jobs.

“While employment outcomes are likely to decrease slightly in January 2022 as a result of the higher alert levels, this will only be transitory as we aggressively pursue the EDC’s 10-point policy implementation.” This will pave the way for our full recovery in 2022, according to Chua.

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