Koko: Unemployment down, but more work needed
December 7, 2024
KOKO: UNEMPLOYMENT DOWN, BUT MORE WORK NEEDED
Senate Minority Leader Aquilino "Koko" Pimentel III expressed cautious optimism over the recent decline in the unemployment rate, as reported by the Philippine Statistics Authority (PSA).
The PSA report indicated that the employment rate was recorded at 96.1 percent. This was higher than the employment rate in October 2023 at 95.8 percent and in July 2024 at 95.3 percent.
The PSA also reported that, in terms of levels, the number of employed persons in October 2024 was recorded at 48.16 million. This was higher than the number of employed persons in October 2023 at 47.79 million and in July 2024 at 47.70 million.
However, Pimentel stressed the need for continued economic growth and targeted interventions to ensure a more equitable recovery for all Filipinos.
"This decline in the unemployment rate is a positive development. However, we must strive for sustained growth that creates more opportunities for Filipinos to find decent work," Pimentel said.
Pimentel emphasized the need for policies that promote job creation, skill development, and entrepreneurship. He cited, for instance, the much-needed support for Marikina's shoemakers, not just to help the industry survive but to ensure it thrives.
"With adequate backing, this sector could generate significant jobs and income," he stressed.
"Mahalaga na masiguro natin na ang pag-unlad ng ekonomiya ay nararamdaman ng lahat ng Pilipino," Pimentel added. "Kailangan nating suportahan ang mga negosyo, lumikha ng mas maraming trabaho, at bigyan ng pagkakataon ang ating mga kababayan na umunlad."
Last Thursday, Pimentel led the distribution of 19 sacks of rice each to 89 Marikina residents, part of the 1,000 beneficiaries set to receive assistance in the coming months under the DOLE Integrated Livelihood Assistance program.
Pimentel lauded the program and advocated for continued funding for DOLE initiatives that empower Filipinos and contribute to economic recovery.
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