NATIONAL Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said Wednesday the underemployment in December 2022 slid to 12.6 percent from 14.7 percent in the same period in 2021, equivalent to 614,000 fewer underemployed persons.
Both visible and invisible underemployment rates fell to 8.1 from 9.8 percent, and 4.5 percent from 4.9 percent, respectively in the last month of 2022.
“As emphasized in the Philippine Development Plan 2023-2028, increasing the income-earning ability of Filipinos entails developing their employability in the market. Alongside providing high-quality jobs, we must ensure that their skills are not just aligned with current in-demand requirements but can also continuously keep up with the demands of evolving and emerging jobs,” Balisacan said.
“Crucial to achieving social and economic transformation is the ‘transformation of talent’ that would create an agile labor force and sustain labor market gains. We will leverage our momentum to ensure the rapid and dynamic growth of our economy,” he added.
metrosundaily
