Monday, June 11, 2018

PH Unemployment Rate Decreases: Duterte Build, Build, Build Program is One Big Factor of Improvement

Photo credits to the owner
The Philippine Statistics Authority (PSA) showed positive news as of late with the employment rate having increased by 5.5% as of April 2018 compared to the employment rate of the same month last year.

This means unemployment has declined in the Philippines from 2.443 million unemployed Filipinos last year compared to 2.360 million unemployed Filipinos this year.

Budget Secretary Benjamin Diokno Photo credits to Inquirer
Budget Secretary Benjamin Diokno deemed it as good news that the unemployed population has decreased.

“Unemployment has declined. It’s good. We have created 685,000 new jobs as result of this ... we are very happy,” Diokno said.

Of all the employment sectors that gained the most momentum, it is the industry sector that showed strong employment growth with a rate of 8.1% or 605,000 workers employed in the industry sector.

Photo credits to GMA
Because of this, the industry sector contributed 19.7% to the total employment share this year, the biggest recorded in the past decade.

National Economic and Development Authority (NEDA) Officer-in-Charge and Undersecretary Jose Miguel de la Rosa cited President Rodrigo Duterte’s Build, Build, Build program as a big factor in the improvements.

“Employment grew partly due to increased infrastructure spending as the Department of Public Works and Highways’ road projects and rehabilitation of public school facilities are already underway nationwide,” he said.

NEDA Usec Jose Miguel dela Rosa. Photo credits to Kagay-an
“We are now seeing the contribution of the Build, Build, Build campaign in terms of job generation. We can expect the demand for workers in the sector to grow further as more projects break ground,” De la Rosa added.

While the employment rate has gone up, NEDA Undersecretary Rosemari Edillon points out that underemployment rate, or the proportion of employed persons wanting additional work, still needs attention having increased to 17% from 16.1% last year.

NEDA Undersecretary Rosemari Edillon Photo credits to bloombergquint
“Underemployment still warrants attention ... What really needs to happen is for the workers to really improve their employability so we get to more remunerative jobs. It’s a job that gives you decent wages. And, I think, to do that is through human capital investments,” Edillion said.

The government is investing heavily in human capital, she said, citing free tuition for students in state colleges and universities and higher assistance to technical-vocational education schools.

Fact check, Source: GMA

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