Despite the unemployment rate slowing to 5.3 percent in August, the National Economic and Development Authority (Neda) believes much needs to be done to boost employment generation nationwide.
DESPITE the unemployment rate slowing to 5.3 percent in August, the National Economic and Development Authority believes much needs to be done to boost employment generation nationwide.
“These reforms would attract high-value and innovation-driven investments which, in turn, could generate more [jobs] and quality employment,” he added. PSA data also showed that invisible underemployment grew 35 percent year-on-year and 11 percent on a month-on-month basis in August 2022. “We must further strengthen our policy interventions so we can generate more jobs, green jobs, and high-quality jobs that provide adequate income for Filipino workers and attain significant poverty reduction. These are necessary steps towards achieving economic transformation,” the Neda chief added.National Statistician Claire Dennis S. Mapa traced the higher unemployment and underemployment to the increase in Labor Force Participation in August.
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