GIVEN the momentum gained towards the end of 2023, the Department of Labor and Employment (DOLE) yesterday expressed optimism over the continued improvement in the country’s employment and unemployment rates for 2024.
In a televised public briefing, Labor Secretary Bienvenido Laguesma said he believes the number of employed and unemployed individuals would continue to improve in the coming months.
“The employment rate has been improving and will hopefully continue to do so,” said Laguesma.
“We hope that these numbers from the Labor Force Survey will continue to show improvement,” he added.
He said their optimism comes from the improving cooperation between the government and the private sector.
“There is continuing cooperation with the private sector, our employers,” said Laguesma.
The labor chief also noted the investment pledges coming from the overseas trips of President Marcos Jr.
“We expect the pledges coming from the state visits of President Marcos in other countries to lead to more investments,” said Laguesma.
But aside from improving the labor force numbers, the official said they are also looking forward to better quality jobs being made available for Filipinos.
“Hopefully, we are on our way towards the direction of more quality, permanent jobs that shall be to the benefit of our workers,” said Laguesma.
Based on the October 2023 Labor Force Survey results, the employment rate is at 95.8 percent while the unemployment rate was at 4.2 percent.
The numbers are better compared to the September 2023 Labor Force Survey, wherein the employment rate was at 95.5 percent while the unemployment rate was at 4.5 percent.
