MANILA — On Wednesday, Aug 9, the Philippine Statistics Authority (PSA) released alarming figures, revealing a rise in the unemployment rate in the Philippines. In June, the rate went up to 4.5% from 4.3% in May. This still reflects a positive trend compared to last year’s 6% in June 2022.
According to PSA head Dennis Mapa, during a news conference, the number of people without jobs has risen to 2.33 million from 2.17 million in May. He further noted that the top three industries facing the largest drop in employment were fishing and aquaculture; transportation and storage; and arts, entertainment, and recreation.
In response to the situation, the National Economic and Development Authority (NEDA) is taking significant steps. Secretary Arsenio Balisacan stated that the government will continue to put a strong focus on labour upskilling to improve the employment possibilities for Filipinos, particularly the youth.
Interestingly, Balisacan pointed out that the employment rate among young people between the ages of 15 and 24 has grown. He said, “As the number of young workers continues to expand, the government is putting great efforts into training and upskilling. This is to ensure they are ready for high-quality and high-paying jobs.”
The statement highlights a determined effort to provide better employment opportunities within the country as many Filipinos continue to seek employment abroad for better-paying jobs and improved working conditions.
This latest data emphasizes the need for a structured approach to tackle the unemployment issue in the Philippines. The government’s commitment to focusing on youth and training might be the right direction towards economic stability and growth.
