Preparations for the holidays boosted the country’s employment numbers and brought down unemployment to its lowest level in nearly two decades, according to the Philippine Statistics Authority (PSA).
workers or additional family members are being asked to help. So these are usual during the holidays,” National Statistician Claire Dennis S. Mapa said in a briefing on Friday.
These activities included pre-Christmas bazaars, midnight sales or night markets and the extension of mall hours, among others that required extra hands. The increase in employment owing to holiday preparations is also reflected in the increase in underemployment. The country’s underemployment rate stood at 14.4 percent in November.
The PSA said there were 2.522 million Filipinos who were considered invisibly underemployed. This was a year on year increase of 147,000 compared to November 2021 and 96,000 from October 2022. “Creating an enabling environment to attract investments that can create more and high-quality employment, while improving the employability of Filipinos are among the major strategies to advance economic and social transformation,” National Economic and Development Authority Secretary Arsenio M. Balisacan said.
These include expanding opportunities for life-long learning, training and retraining programs, and developing the adaptability of the current and future workforce to the changing demands of the labor market.
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