Senator and Senate President Pro Tempore Jinggoy Estrada has expressed his concern about the latest data by the Philippine Statistics Authority on underemployment, showing the sudden drop in the underemployment rate last May 2024—from 14.6% in April to 9.9% in May.
“Any rise in unemployment is worrying and underscores the pressing need to address underlying challenges. While a drop in underemployment may appear positive initially, the significant decrease suggests potential problems in the labor market. This indicates that there are still people who are finding it difficult to secure adequate or appropriate employment,” Estrada said in a statement.
The latest Labor Force Survey released by the Philippine Statistics Authority (PSA) shows that the underemployment rate in May 2024 decreased to 9.9 percent, from 11.7 percent in May 2023 and 14.6 percent in April 2024.
“In terms of magnitude, 4.82 million of the 48.87 million employed individuals expressed the desire to have additional hours of work in their present job or to have additional job, or to have a new job with longer hours of work in May 2024,” the PSA stated.
The senator said the current situation needs strong cooperation among legislators, government agencies, and private sector stakeholders to develop strategic solutions.
“These solutions include creating sustainable and high-quality job opportunities, investing in skills development programs to match the workforce with industry demands, and implementing economic policies that support fair employment practices and job creation,” the lawmaker said.
Estrada also underscored that the government and other stakeholders should not be complacent since a lot of our compatriots still need help to provide for their family’s basic needs.
“Every Filipino deserves the dignity of decent work and the opportunity to contribute to our country’s growth,” he said. (NOEL SALES BARCELONA)
