MOTIVATED by the results of the February 2024 Labor Force Survey (LFS), the Department of Labor and Employment (DOLE) on Saturday, April 14, 2024, expressed its desire to further advance its cooperation with the private and business sectors in the hope to increase quality employment opportunities for Filipinos.
In a statement, Labor Secretary Bienvenido Laguesma said they are looking to have better cooperation with employers if only to further decrease unemployment and underemployment rates.
"We strive to continue and enhance the partnership and collaboration with the investors, business organizations, and development partners, such as the International Labor Organization," said Laguesma.
"This is to enable DOLE to have the necessary information towards having the right policy and acquire technical assistance necessary to implement programs and projects," he furthered.
Laguesma issued the statement after the February 2024 LFS results showed the unemployment rate dropping to 3.5 percent from 4.5 percent in January 2024.
The LFS last February 2024 also showed a 12.4 percent underemployment rate, which is lower than the 13.9 percent underemployment rate in January 2024.
Laguesma said they welcome the results of the February 2024 LFS as the country's employment picture continues to improve.
"The results give us further motivation and inspiration to continue and improve our programs and their implementation," said Laguesma.
He said they hope that the improvement will continue in the succeeding LFS results.
"We hope that the decline in unemployment and underemployment will continue, while the number of quality and decent jobs will continue to increase," said Laguesma. (HDT/SunStar Philippines)