President Ferdinand Marcos Jr. has signed the Trabaho Para sa Bayan Act into law. The new law seeks to address unemployment, underemployment, the informality of working arrangements, the reintegration of overseas Filipino workers and other challenges in the labor market. It focuses on improving the employability and competitiveness of Filipino workers through up skilling and reskilling initiatives while supporting micro, small, and medium enterprises. <\/p>\n\n\n\n
The law establishes an inter-agency council chaired by the National Economic and Development Authority (NEDA) secretary, tasked with analyzing the employment situation and labor market in the country. This council will assist local government units in creating and implementing employment generation and recovery plans.<\/p>\n\n\n\n
Our View: <\/strong>The country is grappling with a growing issue of deteriorating employment quality. The rate of underemployment has reached 15.9% in July, affecting roughly 7.1 million individuals. <\/p>\n\n\n\n The Trabaho Para sa Bayan Act is poised to assume a pivotal role. It is expected to serve as a linchpin for improving coordination among a variety of government agencies and stakeholders. The primary objective is to foster a more cohesive and efficient approach to tackling the multifaceted issues contributing to underemployment and job quality deterioration. <\/p>\n\n\n\n The Act aims to empower workers with the skills and knowledge needed to adapt to evolving labor market demands. This approach not only improves their chances of securing more stable and better-paying jobs but also allows them to traverse various industries and occupations, making them more adaptable and resilient in the face of economic changes.<\/p>\n\n\n\n