Nearly three million Filipinos in the labor force were unemployed on June 30, 2022, when President Ferdinand R. Marcos Jr. took the oath of office as the 17th president of the Philippines. Know more:
Nearly three million Filipinos in the labor force were unemployed on June 30, 2022, when President Ferdinand R. Marcos Jr. took the oath of office as the 17th president of the Philippines. After one year, the total number of unemployed in the country went down to a little over two million. The President attributed the drop in unemployment rate to his administration’s efforts at job creation.
To sustain the country’s recent employment gains and ensure that Filipinos can secure the jobs of the future, workers need to enroll in upskilling and lifelong learning programs, according to the National Economic and Development Authority. . A recent World Economic Forum survey—Future of Jobs Report 2023—showed the expectations of the world’s largest employers related to job trends from 2023 to 2027. The report brings together the perspectives of 803 companies—collectively employing more than 11.3 million workers—across 27 industry clusters and 45 economies from all world regions.
Businesses predict the strongest net job-creation effect to be driven by investments that facilitate the green transition of businesses, the broader application of ESG standards and supply chains becoming more localized, albeit with job growth offset by partial job displacement. Climate change adaptation and the demographic dividend in developing and emerging economies also rate high as net job creators.
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