00:00 The president heard the cry of the people and has focused his energy on giving the public exactly what they want.
00:06 High quality jobs.
00:08 As far as this goal is concerned, the Marcos administration has delivered and continues to do so
00:13 as evidenced by the latest record low unemployment rate, which remained a mere dream for several decades until now.
00:20 Kenneth Prachente has more.
00:24 President Ferdinand R. Marcos Jr. assured that government will remain focused to promote and have a conducive working environment in the country.
00:32 This is his response to the latest report on a decrease in the number of Filipinos unemployed in December 2023
00:38 based on the survey of the Philippine Statistics Authority, in which Filipinos who were employed in December last year reached 96.9%.
00:46 According to the president, the government is doubling its efforts to implement demand and supply side interventions
00:52 as well as pro-investment reforms and strategic partnerships to encourage investors in the country.
00:58 In addition, there is the implementation of initiatives such as public-private partnerships
01:02 and the Pambansang Pabahay para sa Pilipino program of the government that will help stimulate the economy and generate more jobs.
01:09 President Marcos Jr. emphasized the welfare of the workers is addressed through upskilling and reskilling so they can keep up with the progress of technology.
01:17 The president said he was delighted by the progress of the country's labor market as reflected by the numbers in the latest Labor Force survey.
01:25 He insists this was driven by the strong growth of major industries, including construction, agriculture, and services.
01:32 The Department of Budget and Management is also happy with the results of the survey.
01:36 According to Budget Secretary Amina Parandaman, this is just proof of the country's strong economy
01:41 and result of the efforts of the current administration to strengthen the labor sector.
01:45 The secretary assured the government will continue to push for a well-capacitated, inclusive, and dynamic workforce in the country.
01:53 The NEDA also welcomes this significant development but noted the employment losses in the wholesale and retail trade,
01:59 administrative and support services initiatives, fishing, and aquaculture.
02:03 The PSA also noted an increase in the youth underemployment rate.
02:06 NEDA Secretary Arsenio Balisacan said that some of these issues can be addressed by further increasing the utilization of digital technology,
02:13 which is crucial in raising productivity and promoting efficiency.
02:17 He added that the government should enact reforms in education and training programs as these efforts will prepare the workforce with the necessary skills
02:24 and adaptability to thrive in the evolving digital landscape.
02:28 Meanwhile, Finance Secretary Ralph Frecto said that the results are truly promising.
02:32 He said the government will prioritize empowering the workforce through substantial investments in human capital development.
02:40 These will enhance their preparedness for high-quality employment opportunities.
02:44 Kenneth Paciente, from the National TV Network, for a new, better republic.
