Jobless rate down

January 7, 2023 People's Tonight 151 views

IT is certainly heartening to know that poverty-stricken Philippines, a Southeast Asian nation of election-crazy people, is now on the way to economic recovery.

This after the unemployment rate dropped to pre-pandemic levels in November 2022, according to the National Economic and Development Authority (NEDA).

Due to the coronavirus disease pandemic, which claimed the lives of millions of people throughout the globe, the domestic economy was in the doldrums during the last two years.

“Ang daming nagsarang pribadong kompanya hindi lang sa Pilipinas kundi sa buong mundo,” lamented a mother whose three sons lost their jobs in oil-rich Kingdom of Saudi Arabia (KSA)..

“Hanggang sa ngayon ay hindi pa rin nakababalik sa Saudi Arabia ang mga anak ko na may mga anak na nag-aaral sa kolehiyo,” she added. `

Records show that the 4.2 percent jobless rate in November was better than the 4.5 percent and 6.5 percent rates in October 2022 and November 2021, respectively.

In fact, like other displaced migrant workers in various parts of the world, including seafarers, many OFWs are having a hard time meeting the daily needs of their dependents.

“Pati nga mga anak naming nag-aaral sa Metropolitan Manila at Baguio City ay napilitang tumigil dahil sa kakapusan ng pera,” according to a former construction worker in KSA.

Reports said that the lower jobless rate was mainly due to the yearly rev up of economic activities in the last quarter.

Thus, NEDA authorities deserve the support of the people, particularly the employers, as they try to meet the employment needs of the burgeoning Philippine population.