Insider spotlight:
Speaking at the 123rd Labor Day celebration in Pasay City, Marcos said the jobless rate reached 3.8 percent in February 2025, down from 4.3 percent in 2024—marking the best employment performance since 2005
“Dulot ng masiglang ekonomiya, noong nakaraang taon, naabot natin ang pinakamababang unemployment rate sa loob ng 20 taon – 4.3 percent. Patuloy ang pagbuti ng kalagayan ng ating labor market. Nitong Pebrero bumaba pa sa 3.8 percent,” the President said in his speech.
The President cited $27 billion in foreign investment pledges from 2022 to 2024 and P4 trillion in committed local projects that are expected to generate over 352,000 new jobs.
From July 2022 to February 2025, government agencies held more than 4,000 job fairs that attracted one million applicants, with about 170,000 hired on the spot. The administration aims to hold monthly job fairs nationwide moving forward, Marcos said.
To support labor mobility, he said the government has improved public transportation, expanded job fair services, and provided on-site document processing and medical checks in collaboration with other agencies.
The President also pointed to education and training reforms, including enhancements in the Technical-Vocational-Livelihood track in senior high schools, TESDA’s modular certification system, and the recently signed Enterprise-Based Education and Training Framework Act.
On wage issues, Marcos acknowledged calls for higher salaries but stressed the need for balanced deliberation by the Regional Tripartite Wages and Productivity Boards. Since June 2024, 28 wage orders have been approved across 16 regions.
He also announced that the Social Security System will lower interest rates on loans for qualified members starting July and extend loan access to surviving pensioners by September.
To aid returning overseas Filipino workers, the government will launch a reintegration program in June offering training, jobs, and livelihood assistance.
— Edited by Daxim L. Lucas
