President Marcos has signed into law the "Trabaho Para sa Bayan Act," which seeks to solve challenges plaguing the country's labor sector.

In his speech following the ceremonial signing in Malacañan, the President said he was delighted to sign the measure into law as it was a "significant milestone" towards the country's sustainable and inclusive development.

"The law will help us solve the various challenges plaguing our labor sector, such as low-quality jobs, skills mismatch, and underemployment, among others," he said in his speech on Wednesday, Sept. 27.

"It likewise addresses the need to update the skills of our workers and promote the use of digital technologies, particularly for our micro-, small-, and medium-sized enterprises," he added.

Support and incentives

With the enactment of the new law, President Marcos assured businesses, particularly MSMEs, that the government would continue providing support and other incentives, such as increased access to financing and capital to promote self-reliance and spur employment generation.

The law will likewise incentivize employers, industry stakeholders, and private partners who will facilitate skills development, technology transfer, and knowledge sharing among businesses and workers.

"With this concerted effort, I am confident that we will not only achieve the goals of this law, but we will also realize our vision of Bagong Pilipinas," he said.

Trabaho Para sa Bayan Inter-Agency Council

The law creates the Trabaho Para sa Bayan Inter-Agency Council (TPB-IAC), which will craft a master plan for employment generation and recovery. It will be led by National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan.

The body will be co-chaired by the secretaries of the Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) with representatives from other agencies and various sectors.

It is tasked to conduct a comprehensive analysis of the country's employment status and labor market and ensure the effective use of resources, harmonizing and complementing all government efforts.

In addition, the TPB-IAC will assist local government units (LGUs) in planning, devising, and implementing employment generation and recovery plans and relevant programs within their respective localities.  

In his speech, President Marcos ordered the Council to fast-track the issuance of the implementing rules and regulations of the law so it could immediately benefit workers and stakeholders.