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Improved business environment spurs job growth in the Philippines—DOLE

Published Dec 14, 2024 06:39 am

The country's improving business environment has driven sustained job growth across key sectors and has been strengthening overall economic stability, the Department of Labor and Employment (DOLE) said.

DOLE Undersecretary Benjo Benavidez cited the October 2024 Labor Force Survey by the Philippine Statistics Authority (PSA), which reported a 96.1 percent employment rate, an increase from 95.8 percent in October 2023.

This translates to over 48 million Filipinos employed this year, up from more than 47 million the previous year.

Benavidez emphasized that while the private sector leads in job creation, the government plays a crucial role in cultivating a business-friendly environment that enables industries to thrive.

The survey highlighted significant employment increases in sectors such as administrative support services, accommodation, transportation, construction, and mining.

Benavidez added that government initiatives focused on infrastructure development, supporting key industries, and attracting foreign investments are critical in sustaining the nation’s positive job growth.

Such policies, he said, are key to driving the country's economic stability and ensuring long-term growth.

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