President Aquino pleased by slight reduction in unemployment rate

By Jelly F. Musico

MANILA, Dec. 10 (PNA) – President Benigno Aquino III on Thursday expressed elation over the slight reduction in the unemployment rate.

Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. said it was Socio-Economic Planning Secretary Arsenio Balisacan who reported to President the Labor Force Survey result which show the unemployment went down from 6.8 percent last year to 5.7 percent.

”The President was delighted that the government programs on the sustainable and inclusive growth have getting positive results,” Coloma said in a media briefing.

Coloma said the new unemployment figure was the lowest since 1994.

”One aspect of that was that the labor participation rate went down to the age bracket of 15 to 19. It is one indication that more youth were able to go back to school and they are no longer in the labor force,” Coloma said.

Coloma said the 4Ps (Pantawid Pamilyang Pilipino Program) of the government also played important role in bring down the number of out-of-school youth.

”On the other hand, the government is also giving priority in improving the quality of jobs that is necessary to sustain that kind of level of employment,” Coloma said.

”The term we use for this is the campaign for quality jobs, quality employment and more highly remunerative employment,” he added.

Coloma said the Technical Education and Skills Development Authority (TESDA) has been providing big contribution in producing special skilled workers.

”And once they have enough skills, they will surely get permanent work with higher compensation,” he said. (PNA)