With more graduates of the K-12 basic education curriculum expected to join the labor force next year, the Neda is bracing for a possibly higher jobless rate in 2023. | bendeveraINQ /PDI
Edillon pointed out that pre-pandemic, the labor force increased by an average of 600,000 yearly from 2016 to 2019.
But with additional K-12 graduates entering the labor force in 2013, Neda expects a bigger-than-usual 1.5 million new entrants to the job market next year. More Filipinos–including youth and senior citizens–have been looking for jobs amid economic reopening from previously stringent COVID-19 lockdowns, which had shed millions of livelihoods and shuttered thousands of businesses.
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