House Speaker Martin Romualdez (PPAB)

House Speaker Martin Romualdez credited the Marcos administration’s economic policies for the decline in unemployment and underemployment figures.

In a statement on Friday, Jan. 10, Romualdez says this “piece of good news” means that the economy continues to expand under President Marcos. 

A striving economy, he said, leads to job creation and more income opportunities for Filipinos.

“The right economic policies are driving our growth and generating jobs for jobless Filipinos,” added Romualdez.

Based on the latest Labor Force Survey by the Philippine Statistics Authority (PSA), the unemployment rate dropped to 3.2 percent or about 1.66 million jobless Filipinos in November 2024, from 3.9 percent of the previous month.

Meanwhile, the underemployment rate fell to 10.8 percent in November from 12.6 percent in October.

“We are happy for those who have found employment and who are working longer hours than before,” said Romualdez.

For those who remain unemployed, the Speaker said the government has various programs to help them.

Among these programs are the Ayuda sa Kapos ang Kita Program (AKAP) and the Assistance to Individuals in Crisis Situation (AICS), which are financial assistance administered by the Department of Social Welfare and Development (DSWD). 

Romualdez also cited the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) of the Department of Labor and Employment (DOLE), which provides temporary employment to workers in the informal sector.

He suggested that unemployed Filipinos could also avail themselves of training and retooling courses offered by the Technical Education and Skills Development Authority (TESDA).

“We hope that as the economy grows and create more jobs, they would eventually find employment,” the House leader noted.

Romualdez assured the public that the House of Representatives would continue to help the Marcos administration in its efforts to sustain economic growth to “keep current jobs and to create more jobs”.

“It’s a big challenge, which we hope to successfully address for the benefit of all of our people,” he stressed.