Following the report that there are nearly three million unemployed Filipinos, the Department of Labor and Employment (DOLE) said on Saturday, March 19 that the national government’s decision to ease the country’s quarantine restrictions and opening up the economy would boost the national employment rate.
According to the DOLE, January 2022 Labor Force Survey (LFS) results showed that the country’s employment rate increased by 1% from October 2021 to January this year.
“The unemployment rate of 6.4% was achieved despite most regions remaining below Alert Level 3. The employment rate increased significantly by one percentage point – from 92.6% in October 2021 to 93.6% in January 2022,” the DOLE said in a statement.
The data also showed a drop in the employment level of 808,000 last December.
Similarly, labor force participation fell by more than one million, from 47.330 million in October 2021 to 45.943 million in January due to tighter restrictions imposed after the spike in cases after the holiday season.
With nationwide alert levels lowered, the DOLE expressed optimism that labor force participation will sustain better employment numbers as the government continues its stimulus efforts through of the National Employment Recovery Strategy (NERS) Task Force.
“In the coming months, other programs will be rolled out by the government which should improve the labor market situation. These include the distribution of targeted subsidies amounting to 6.1 billion pesos to workers in the transport, agriculture and fishing sectors; cash transfers of P2,400 for the poorest 50% of households,” the DOLE said.
Apart from these programs, the DOLE also called on the national government to approve the proposed 24 billion peso wage subsidy for workers affected by the pandemic and global crisis.
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