Filipinos can expect better job opportunities this 2024 as the private sector is “optimistic” after the Philippines had “one of the best quarters” late last year, Private Sector Advisory Council (PSAC) Lead for Jobs Joey Concepcion said on Wednesday, Jan. 10.

Go Negosyo founder Joey Concepcion (Photo from Go Negosyo/ Facebook)

Economically speaking, Go Negosyo founder shared that the Philippines’ 2023 4th quarter was one of the best quarters the country had post-pandemic.

“So, iyong buong (the whole) private sector ay talagang (really) we are very optimistic that this year will also be a much better year. Hoping that the current issues there in the Middle East stay the way it is, no further escalation and commodity prices has hit a low and gradually has moved up but not to hit highest levels,” he explained during the “Bagong Pilipinas Ngayon” briefing.

“So, if we can contain inflation not only in the Philippines but in the other parts of the world, then definitely we will benefit ‘no,” he added.

Concepcion said this after the Labor Force Survey (LFS) showed that unemployment rate in the country decreased to 1.83 million in Nov. 2023 from 2.18 million in Nov. 2022.

He also shared that some of the micro, small, and medium enterprises (MSMEs) that his non-profit organization Go Negosyo has helped for the last 18 years have already grown.

The need to support and strengthen MSMEs is also emphasized by the entry of foreign investments and businesses.

The Go Negosyo founder said that as the country’s economy expands, so does the interest of foreign investors.

Concepcion cited the case of a convenience store that has been recently popping up in Manila and nearby provinces. The entry of these businesses “is also going to hurt some of our sari-sari stores because their entry is creating greater competition.”

“So, these are what we have to prepare ‘no – we have to strengthen our micro and small entrepreneurs to upskill themselves,” he added.

He also recognized the challenges of digitalization and artificial intelligence (AI), stressing the role that PSAC plays in upskilling and reskilling Filipino workers.

Meanwhile, the official assured that he is not against Filipino workers leaving to work abroad as he noted the bigger opportunities being presented there for Filipinos.

“So, I think I would not stop people from migrating overseas for a better life; but in the end many of these people will come back home,” he said, adding that they must save enough money to start a business in the country once they decide to stay for good.

The government instead should focus on the country’s agriculture, which Concepcion described as “the biggest challenge” but also “the game changer in poverty alleviation.”

Right now, Go Negosyo, through its Kapatid Angat Lahat Program (KALAP), is focusing on clustering farmers into cooperatives to scale up their production and bridge them to bigger markets and consumers.

“So, if we are able to fix agriculture during President Marcos’ term, then the landscape towards poverty will really change, more and more people and farmers will become rich, that’s important,” he said.