“Around 70 million working-age Pinoys can provide much-needed boost to national economy.”
This was announced by the Commission on Population and Development (POPCOM) as the country observes Population Development Week from November 23 to 29.
As reported in the Philippine Statistics Authority’s (PSA) 2020 Census of Population and Housing, “out of the said year’s total number of 109,035,343 individuals, more than half—or 69.40 million—are within the 15 to 64 years old working-age bracket.” This huge segment has the potential and the capacity to boost the country’s economic recovery.
What needs to happen for such opportune scenario to materialize?
“To fully tap this significant quantity of workers, the national government needs to provide steady streams of quality jobs, while capacitating them appropriately so that they can acquire needed skills by industries,” stated POPCOM Officer in Charge-Executive Director (OIC-ED) Lolito R. Tacardon. He added: “This should be a priority; otherwise, we might miss the chance to hasten the country’s socio-economic growth to further improve the quality of life of every Filipino.
Collective efforts at decreasing the levels of fertility and mortality nationwide have produced this beneficial outcome. Couples and individuals have “effectively limited and spaced the number of their children in previous decades.” Hence, the young base of the population has declined, while the number of those in the working-age bracket gradually increased. Credit is given to the effectiveness of the population development programs, including family planning.
The dynamics of this transition is often referred to as “the demographic sweet spot and dividend.”
While there is sufficient reason to celebrate, it is important to understand that this is not an unlimited opportunity. Dr. Dennis Mapa, who has been serving since 2019 as National Statistician and Civil Registrar General, wrote a paper in 2015 cautioning that “this window is closing fast.” He pointed out:
“It should be emphasized though that demographic dividend is not automatic. The demographic transition simply creates a demographic window of opportunity that should be given the right kind of policy environment to produce a sustained period of economic growth. The growing number of adults (particularly those aged 15 to 24) during the second phase of the transition will be productive only when there is flexibility in the labor market to allow expansion. Government policies play a vital role to guarantee the creation of this demographic dividend.”
Starting with the 2023 budget, the present administration could start implementing programs that would enhance the probability that the country could reap the dividends from the demographic sweet spot.
Economic Planning Secretary Arsenio Balisacan, who spearheaded the crafting in 2015 of AmBisyon Natin, the country’s blueprint for long-term economic development until 2040, has declared that the government will prioritize poverty alleviation and reduction strategies. This is essential for enabling the millions who had borne the brunt of the pandemic’s harsh economic conditions to rejoin the mainstream of social opportunity.
Once they are aboard the moving train of national economic progress, they could participate meaningfully in collective efforts to establish a stable framework for sustainable growth and progress.