The foreign visits of President Ferdinand R. Marcos Jr. generated more than 200,000 jobs for Filipinos, Department of Labor and Employment (DOLE) Secretary Bienvenido Laguesma said Monday.
Laguesma said power, renewable energy, and electronics manufacturing were the first sectors to create jobs.
He mentioned that approximately 201 investment-led projects were valued at over US$76 billion, or PhP4 trillion, all generated from the President’s trips abroad since he took office.
The Labor chief assured the government that it would take decisive action to secure more investments and create additional employment opportunities.
“Nagtutuloy-tuloy po, hindi lamang siguro masasabi natin na instant, nandidiyan na dahil nga may proseso na dinadaan. Pero given the instruction na follow-through these commitments, we will be able to know what actually would make them really put in the promised investment para makalikha ng karagdagang trabaho,” Laguesma said.
Last month, DOLE held a job fair with JobStreet, attended by approximately 18,000 job seekers, including fresh graduates and experienced professionals.
According to the National Economic and Development Authority (NEDA), the Philippine labor market concluded 2024 with a stable employment rate and enhanced job quality.
The Philippine Statistics Authority (PSA) reported a 3.1 percent unemployment rate in December 2024, consistent with last year’s figure.
On the other hand, the underemployment rate decreased to 10.9 percent from 11.9 percent in December 2023, indicating improved job quality and fewer workers seeking additional jobs.
In the same month, the labor force participation rate (LFPR) stood at 65.1 percent, a decrease from 66.6 percent in December 2023.
The youth LFPR decreased to 31.9 percent from 34.5 percent due to schooling and training. Female labor force participation also fell to 54.7 percent from 56.3 percent, as more women cite household responsibilities as a barrier to employment. | PND
