On the heels of the disappointing news that the inflation rate had risen even higher to 8.7 percent in January – beyond the Bangko Sentral ng Pilipinas’ forecast range of 7.5 to 8.3 percent, and the government’s target range of two to four percent – there was a vital piece of good news on the economic front. More Filipinos were employed in the now fully-opened economy. According to the Philippine Statistics Authority (PSA), the country’s unemployment rate dropped to 4.3 percent in December 2022 from 6.6 percent in the same period in the previous year. On a year-on-year basis, there were 1.1 million fewer unemployed – a firm indicator that indeed, the economy was on a strong rebound. The country’s labor force participation rate also increased to 66.4 percent from 65.3 percent in the previous year. Total employment reached 49 million, as an additional 2.7 million persons were employed compared to year-ago levels. Indeed, the lethal effects of the coronavirus pandemic have receded significantly. Despite the fact that it is still classified as a public health emergency, Filipinos have learned to cope with its deleterious effects and are definitely on the move again. Local tourism is in the uptrend as both visitors and Filipinos have returned to popular destinations in large numbers. Wholesale and retail trade and other commercial activities associated with food and travel led the ascent in employment numbers. Quality improvement is also evident. Wage and salary workers accounted for the growth in employment; the number employed in private firms increased by 1.8 million individuals or 8.1 percent. Services posted a 10.1 percent growth; industry growth was at 1.8 percent. Another key indicator was the drop in underemployment to 12.6 percent in December, or better than the year-ago level of 14.7 percent. Yet, as President Marcos himself has pointed out, much more needs to be done to ensure that the country would firmly regain its pre-pandemic growth trajectory. The Social Weather Stations’ latest survey showed that in December 2022, 11.8 percent – or around three million families – experienced involuntary hunger, which is defined as “being hungry and not having anything to eat at least once in the past three months.” This figure was slightly higher than 11.3 percent in October 2022 and 11.6 percent in June 2022. This underlines the need for the government to focus more intensely on improving social protection. Also noteworthy is the continuing exodus of Filipinos to seek gainful employment abroad. According to the PSA: “The number of Overseas Filipino Workers (OFWs) or Filipino workers increased by 3.0 percent or 53.57 thousand overseas workers from 2020 to 2021. In 2020, OFWs were registered at 1.77 million, of which 1.71 million were OCWs and about 64,000 were other Filipino workers abroad without valid working visa and work permits.” Despite the stabilizing effect of foreign remittances contributed by the OFWs, their separation from their families produces multiple pain points with social consequences that the government must continue to address.