Finance Secretary Benjamin Diokno presents the Department of Finance’s proposed budget for 2024 before the Finance Subcommittee A Monday, October 2, 2023. Joseph Vidal/Senate PRIB
Finance Secretary Benjamin Diokno expressed belief Monday that the employment situation in the Philippines has been bright, saying the quality of employment in the country has improved.
“Iyong employment situation (Our employment situation) natin really is also very bright ‘no. Ang unemployment natin ngayon (Our unemployment right now) at the moment is 4.5 percent – mababa na iyon (that’s low) compared sa (to) other years and in fact, it’s lower than what is in the medium-term economic program ni (of the) Presidente,” Diokno said.
”And also the quality of employment has improved ‘no. Iyong dati na tinatawag na underemployment rate – ano ba ang ibig sabihin ng underemployment rate (what’s the meaning of underemployment rate)?” Diokno added.
Diokno also said that if a person has a job, he or she would no longer feel the projected two to four percent inflation rate in the first quarter of 2024.
“May trabaho ka na, pero tatanungin ka, are you looking for a better job? Kapag sinabi mong yes, underemployed ka. That used to be 26%, ngayon lowest even 10.4%. So, gumanda na iyong employment situation, iyan ang makakatulong sa mga kababayan natin,” Diokno said.
(You have a job and if you’ll be asked, are you looking for a better job? If you say that you have a job, you are underemployed. That used to be 26%, but now it’s 10.4%. So, the employment situation has improved. That will help our fellow countrymen.)
”Kung may trabaho ka, hindi mo na masyadong mapapansin iyong 2 to 4% na inflation, ‘di ba? Kasi may trabaho ka naman eh, ‘di ba?” she added.
(If you have a job, you’ll no longer notice the 2 to 4% inflation because you have a job.)
Results of the Labor Force Survey (LFS) for August showed the number of employed persons increased, but employment data indicated that the quality of jobs were low.
Results of the LFS showed that employed Filipinos increased to 48.07 million, up from 44.63 million in July and also higher than the 47.87 million persons with jobs or livelihoods in August 2022.
This translated to an employment rate of 95.6%, higher than the 95.2% rate in July and the 94.7% in the same period last year. — RSJ, GMA Integrated News
This article DOF’s Diokno says PH employment situation ‘bright’ was originally published in GMA News Online.
News Related
-
LOS ANGELES: Quarterback Jalen Hurts ran in an overtime touchdown to give the Philadelphia Eagles a 37-34 NFL win over the Buffalo Bills Sunday (Monday in Manila) and move them to 10-1 on the season. The Eagles, who lost the Super Bowl to Kansas City last season, trailed at half-time ...
See Details:
Eagles rally past Bills in overtime as Chiefs win
-
Yen Makabenta First word WHILE UN Secretary-General Antonio Guterres and other promoters of the climate emergency are preparing to convene the 28th conference of the parties (COP28) of the UN Framework Convention on Climate Change (UNFCCC) in the United Arab Emirates, starting on November 30 and stretching to December 12, ...
See Details:
Reality bites the green energy agenda
-
Sandigan orders Marcos Sr. pal to pay workers The Sandiganbayan has ordered the enforcement of a July 2023 ruling ordering a Marcos Sr. associate to pay a lumber company’s workers P2.1 million in damages as well as return 60 percent of their company’s shares and pay all unpaid benefits. The ...
See Details:
Sandigan orders Marcos Sr. pal to pay workers
-
DSWD: Shear line, LPA affect 1.2 million people; over 18,000 families evacuated MANILA, Philippines – More than 18,000 families have fled to evacuation centers across flood-affected regions in the country due to the impact of the shear line and low pressure area. Department of Social Welfare and Development (DSWD) gave ...
See Details:
DSWD: Shear line, LPA affect 1.2 million people; over 18,000 families evacuated
-
-
MANILA, Philippines: The entire Luzon, including Metro Manila, is expected to experience isolated rain showers and thunderstorms as the northeast monsoon (“amihan”) and easterlies will be affecting the country over the next 24 hours, the state-run weather agency said on Tuesday. Weather specialist Patrick del Mundo of the Philippine Atmospheric ...
See Details:
Rain showers, thunderstorms over Luzon, including Metro Manila — Pagasa
-
Attention, Naruto fans! You can soon watch the famous anime’s live-action adaptation as it finally has a confirmed writer. According to a Variety report, the beloved manga and anime series is set to head to big screens for its live-action adaptation under Lionsgate. It will be written by Tasha Hao, ...
See Details:
'Naruto' live-action film adaptation is in the works
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
NASA Highlights Stingray Nebula
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
Manila's Lagusnilad underpass opens
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
China probes debt-ridden financial giant
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
China's VUCA situation
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
Unraveling the mystery that is diabetes
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
Bangladesh's nuke plant is not going to steal PH investments
-
NASA Highlights Stingray Nebula (Vikas Chander // NASA – APOD) The NASA has showcased the stunning dark nebula officially cataloged as SH2-63 and LBN 86 in the ‘Astronomy Picture of the Day‘. +WhatsApp Web gains the feature of single-view photos and videos +Check out rare images of the prototype of ...
See Details:
Aliw Awards nominations out
OTHER NEWS
WhatsApp Web gains the feature of single-view photos and videos (Photo: Unsplash) The WhatsApp Web, the desktop version of the popular messaging app from Meta, has received an update allowing ...
Read more »
Young athletes’ time to shine in Siklab Awards MANILA, Philippines — The future heroes of Philippine sports will be honored during the third Siklab Youth Sports Awards on Dec. 4 ...
Read more »
Graphics by Jannielyn Ann Bigtas A local government official said Monday that five to 10 barangays in Northern Samar are still isolated following the massive flooding in the area last ...
Read more »
DyipPay app lets you pay jeepney fare, book tricycles “Barya lang po sa umaga.” Everyone who rides jeepneys knows this rule: it may not be an actual law, but it’s ...
Read more »
Updated In-Season Tournament Bracket ahead of pool play finale Tuesday will mark the last day of pool play for the inaugural NBA In-Season Tournament. From there, six first-place teams and ...
Read more »
PCG forms teams for maritime emergency response MANILA, Philippines — Recent incidents of fishermen lost in the waters off Southern Tagalog have prompted the Philippine Coast Guard (PCG) to form ...
Read more »
Heavy snowfall hits Romania, Bulgaria and Moldova; 1 person dead BUCHAREST, Romania — Heavy snowfall and strong blizzards in Romania and Moldova on Sunday left one person dead and hundreds ...
Read more »