Estrada says improved jobless rate good sign for economy

(INQUIRER) Senator Jinggoy Ejercito Estrada said that the better unemployment rate is a sign that the government may no longer need to provide aid to citizens.

According to the Philippine Statistics Authority, the country’s unemployment rate eased to 4.2 percent while the underemployment rate grew to 14.4 percent in November 2022.

“Sa sitwasyong ganito, matutukan na ng ating gobyerno ang mga kinakailangang mga programa para sa tuloy-tuloy na pagbangon mula sa pandemya at panunumbalik ng normal nating pamumuhay. Senyales rin ito na hindi kakailanganin pang maglaan ng pondo ang gobyerno para pang-ayuda sa ating mga kababayan,” he said in a separate statement.

(In this situation, the government can focus on needed programs for the continuous revival from the pandemic and towards normalcy. This is also a sign that the government may no longer be needed to allot funds for the aid of our citizens.)

Estrada likewise said that the decreasing unemployment rate is a good sign for the economy.

The improving jobless rate, the senator said, proves that many opportunities opened up, including the return of micro, small, and medium enterprises (MSMEs).

“Kung susuriing maiigi at ayon na rin sa mga datos, ang bilang unemployment rate sa bansa ay bumalik na sa pre-pandemic levels. Magandang senyales ito para sa ating ekonomiya,” he said.

(If we look into it and based on data, the unemployment rate in the country returned to pre-pandemic levels. This is a good sign for our economy.)

“Patunay ito na marami ng nagbukas na oportunidad para makabalik sa trabaho ang ating mga kababayan pati na rin ang panunumbalik ng mga negosyo o ang mga MSMEs na bumubuo sa 99.5% commercial establishments at nagbibigay ng trabaho sa 63% ng ating workforce,” the incumbent Senate Committee on Labor, Employment and Human Resources Development chairperson went on.

(This is proof that many opportunities became available for our fellow citizens to return to work. Businesses or MSMEs that make up 99.5 percent of commercial establishments and provide jobs to 63 percent of our workforce also returned.) -Daniza Fernandez/ Inquirer