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Loss of middle-income and high-paying jobs worries Balisacan despite overall employment growth

Despite the improvement in the employment numbers in August, National Economic and Development Authority Secretary Arsenio Balisacan is not letting his guard down, saying the Marcos Jr. administration is committed to generate high-quality and high-paying job opportunities.

“Much remains to be done as the number of middle- and high-skilled occupations decreased while low skilled occupations increased compared to the previous year,” Balisacan said.

According to data from the Philippine Statistics Authority, 354,000 middle and high skilled jobs were lost compared to a year ago while low skilled occupations increased by 551,000.

“To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors with the resources needed to bring in high-quality and high paying jobs,” Balisacan said.

The unemployment rate fell to 4.4% in August 2023 from 5.3% a year ago and from July 2023’s 4.8%. Underemployment also fell.

Balisacan said the government will continue to ramp up efforts to boost economic growth and quality job creation amid economic headwinds.

The passage of the PPP act will establish a stable and predictable environment for the private sector, reduce transactions and improve the ease of doing business.

Balisacan said the PPP Act will clarify long standing ambiguities that have hindered the implementation of several projects needed to create better job opportunities.

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