Press Release - Statement of Senator Joel Villanueva on the November 2024 Labor Force Survey

Starting the year on a positive note.

We laud the decrease of the unemployment rate to 3.2% in November 2024 from 3.9% in October 2024, and underemployment rate to 10.8% for the same period, from 12.6% in October 2024.

We are expecting for a more improved jobs data with the full implementation of the Trabaho Para Sa Bayan Act and the Enterprise-Based Education and Training (EBET) Program Act, which we principally authored and sponsored in the Senate, as well as the enactment of the Expanded Tertiary Education Equivalency and Accreditation Program (ETEEAP) bill. These are pivotal drivers in fostering both economic growth and labor policies. These measures, which are priorities of the Marcos administration, are essential in equipping our workforce with the skills needed to thrive in today's economy.

As we look ahead, we are committed to ensuring the full implementation of these laws, knowing they will play a vital role in further reducing unemployment, creating more opportunities and better quality jobs, and ultimately ensuring sustainable growth for our nation.