Gov’t to keep on fostering investment-friendly climate for more jobs

Published February 5, 2020, 12:00 AM

by manilabulletin_admin

By Genalyn Kabiling 

The government has pledged to further promote a business-friendly environment to generate more high-quality jobs for Filipinos after a survey showed fewer jobless adults in the fourth quarter of 2019.

Presidential Spokesman Salvador Panelo (OPS / MANILA BULLETIN)
Presidential Spokesman Salvador Panelo

Presidential Spokesperson Salvador Panelo said good governance and sound economic policies would be sustained to attract job generating-investments to the country.

“The Palace welcomes the latest results of a survey by the Social Weather Stations (SWS) showing a drop in adult joblessness from 21.5% in September 2019 to 17.5% in December 2019,” he said in a statement Wednesday.

“The President understands that attracting domestic and foreign investments through good governance and sound economic policies is key to a vibrant labor market and progressive economy. We commit to continue creating an environment conducive to growth that generates more high-quality jobs for the greatest number of Filipinos.”

In the Social Weather Stations (SWS) survey conducted last December, joblessness among Filipinos dropped to 17.5 percent in the fourth quarter of 2019. The number is equivalent to 7.9 million jobless Filipinos compared to the 21.5 percent or 10 million jobless Filipinos recorded last September. The “jobless Filipinos” included those who voluntarily left their jobs, first-time jobseekers, and retrenched from work.

READ MORE: SWS: Number of jobless Filipinos decrease in last quarter of 2019

Panelo said the polling firm mentioned that the urban joblessness rate in December 2019 was the lowest in 15 years at 15.3 percent.

“The Duterte administration recognizes the importance of the Philippine labor force and utilizing human resource as a means of improving the overall standard of living of Filipinos,” he said.