IN an effort to address job mismatch and unemployment, Quezon City Fifth District Representative PM Vargas encourages more private sector to participate in Enterprise-Based Education and Training (EBET) Framework Act.
“Jobs and livelihood remain as top concerns of Filipinos. As more employment opportunities await our labor force with the growing demand of various industries, we have to be ready with qualified human resources in the field of critical and in-demand technical skills,” Vargas said.
EBET is a landmark law principally authored by Vargas which aims to promote equal employment opportunities for all by upgrading skills and competencies of Filipino workers through specialized training that will build higher-level competencies. The law was signed by President Bongbong Marcos November last year.
In line with this framework, businesses that will implement EBET or apprenticeship programs will receive deductions from their taxable income equivalent to 50 percent of actual training expenses. They shall also be exempted from duties and taxes if donations, subsidies and financial aid will be made to certified TESDA technical-vocational institutions.
“Incentivizing the private sector hopes to encourage enterprises, including micro, small, medium businesses, to produce high-quality manpower. They can someday take pride of their contribution to the labor market and to our economy,” Vargas said, adding that, “We have already gained momentum by easing unemployment rate despite disruptions caused by storms and disasters last year. We hope to keep up the pace with this government and public partnership.”
According to the Philippine Statistics Authority (PSA), unemployment eased to 3.2 percent from the 3.9 percent previously. Underemployment rate also improved to 10.8 percent or better than the 12.6 percent underemployed individuals registered in October 2024.
