Unemployment rate, malaki ang ibinaba ngayong taon

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Transcript

00:00Let's go back to the projects under the administration of President Ferdinand R. Marcos, Jr.,

00:05which led to the country's economic recovery,

00:08where work is flourishing,

00:11while the prices of buildings are still high,

00:13projects in infrastructure and innovation in technology are advancing.

00:18Let's look at the 2024 highlights of the economy in Joshua Garcia's report.

00:23About 1.03 million female workers joined the labor force.

00:33Overall, this is 1.9 percent.

00:37Overall, it means that it still increased, but at a slower rate.

00:42This year, the economic recovery will not be neglected.

00:46Under the administration of President Ferdinand R. Marcos, Jr.,

00:50we can still see a bright future for the year 2025.

00:55The priority here is to lower the unemployment rate,

00:58or the number of unemployed by 4.0 percent,

01:00which is expected to be lower than in 2023.

01:03The lowest figure in almost two decades

01:06was released by the Philippine Statistics Authority.

01:09One of the major contributions here

01:11is the entry of female workers in the labor workforce,

01:14where most of them take a long time to get a job.

01:17Year on year, between August 2023 and August 2024,

01:21about 1.03 million female workers joined the labor force,

01:27and about 1.03 million were absorbed in the labor market,

01:32which means they are employed.

01:33Aside from this, the administration continues to strive for its initiatives,

01:37investment from the private sector, and the emerging digital economy.

01:42According to the National Economic Development Authority,

01:45one of the main priorities of the government

01:48is to improve the quality and better income of Filipino workers,

01:52which has a major role in improving the economy of the country.

01:56Despite the trials that the country faces

01:58when it comes to inflation in 2022 and 2023,

02:01it is slowing down and showing stability

02:04despite global supply chain disruptions

02:06and rising oil prices in the global market.

02:09If our inflation rate goes down,

02:11it means that the price of goods will go down.

02:16But if we look at the individual items,

02:20or some group of items,

02:22there are some that really went down, negative.

02:24It means that the price really went down.

02:26An example of this is transport, gasoline, diesel, tomatoes,

02:31those are negative.

02:33But overall, this is 1.9%, overall,

02:37meaning that it still went up, but at a slower rate.

02:43Now in 2024,

02:44the administration of President Marcos Jr. is positive

02:47that the target of 6% to 6.5% gross domestic product

02:51or economic growth will be achieved.

02:53And if the implementation of the economic agenda continues,

02:56up to 8% GDP will be the target

02:58that will be achieved at the end of his term in 2028.

03:01Gradually, and one step at a time,

03:03the President's desire for a longer term

03:06and, if possible, a permanent prosperity of every Filipino

03:10towards the fulfillment of everyone's dream

03:12that no Filipino will ever starve.

03:15I am Joshua Garcia,

03:16and this is Highlights 2024 for the new Philippines.

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