The foreign visits of President Ferdinand R. Marcos Jr. have led to the creation of over 200,000 jobs for Filipinos, according to the Department of Labor and Employment (DOLE) Secretary Bienvenido Laguesma.
Laguesma highlighted that the initial sectors to benefit from these jobs include power, renewable energy, and electronics manufacturing. He further mentioned that around 201 investment-led projects, valued at over US$76 billion (approximately PhP4 trillion), have been generated from the President’s overseas trips since he took office.
The Labor chief assured that the government is committed to securing more investments and creating additional employment opportunities. “Nagtutuloy-tuloy po, hindi lamang siguro masasabi natin na instant, nandidiyan na dahil nga may proseso na dinadaan. Pero given the instruction na follow-through these commitments, we will be able to know what actually would make them really put in the promised investment para makalikha ng karagdagang trabaho,” Laguesma said.
Last month, DOLE held a job fair in collaboration with JobStreet, which was attended by approximately 18,000 job seekers, including fresh graduates and experienced professionals.
According to the National Economic and Development Authority (NEDA), the Philippine labor market concluded 2024 with a stable employment rate and improved job quality. The Philippine Statistics Authority (PSA) reported a 3.1 percent unemployment rate in December 2024, consistent with the previous year’s figure.
Meanwhile, the underemployment rate decreased to 10.9 percent from 11.9 percent in December 2023, indicating an improvement in job quality and fewer workers seeking additional employment.
In the same month, the labor force participation rate (LFPR) was 65.1 percent, a decrease from 66.6 percent in December 2023. The youth LFPR declined to 31.9 percent from 34.5 percent due to schooling and training, while female labor force participation also fell to 54.7 percent from 56.3 percent, as more women cited household responsibilities as a barrier to employment.
