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The country’s unemployment rate fell 3.1 percent in June 2024, marking the lowest level in almost two decades, according to the Philippine Statistics Authority.
The National Economic and Development Authority said the June unemployment rate matches the record low set in December 2023, marking the lowest unemployment rate in nearly two decades. Finance Secretary Ralph G. Recto, on the other hand, expressed optimism on achieving the administration’s ultimate goal of reducing the poverty rate to a single-digit or 9% by 2028.
“To sustain these gains, we will persist in improving the country’s business climate to attract investments that generate higher-quality jobs. The government will address bottlenecks and expedite processes to fulfill investment pledges and reap the benefits of liberalization reforms,” Balisacan said.
NEDA is advocating for the passage of the Apprenticeship Bill, which will institute reforms in the apprenticeship program and equip the youth with job-ready skills through a blend of workplace training and classroom learning.
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