Jobless rate
MEETING the employment needs of the mushrooming Philippine population remains a top priority of President Marcos’ government.
In fact, the administration has put in place programs and initiated activities aimed at addressing the unemployment problem.
As a result, the country’s jobless rate declined to just 3.1 percent in June, or about 1.62 million unemployed, according to the Philippine Statistics Authority (PSA).
Note that in December last year, this impoverished Southeast Asian country also registered a 3.1 percent jobless rate.
In June 2024, more workers were hired in the construction sector, according to National Statistician Claire Dennis Mapa.
The construction industry involves building, repairing and maintaining infrastructure and real estate projects.
An economist attributed the improved unemployment data to seasonal factors, government initiatives and improving business confidence.
Of course we share the view of the economist that the sustainability of unemployment decline warrants close monitoring.
Pending the creation of more high-paying local jobs, the government ought to continue sending our workers to foreign lands.
Let’s not forget that the billions of dollar remittances of our migrant workers continue to prop up the local economy.
