(Eagle News) — The Palace on Friday, June 5, said it was “saddened” but “not surprised” by the rise in unemployment in the country in April, expressing optimism Filipinos would weather the crisis.
In a statement, Presidential Spokesperson Harry Roque said the unemployment rate–which, according to the Philippine Statistics Authority, was a record-high 17.7 percent two months ago or equivalent to 7.3 unemployed Filipinos–was an “obvious effect of the economic shutdown when the entire Luzon area was in an enhanced community quarantine where most businesses were closed and many people were out of work and stayed at home.”
He said the government has assisted affected workers with various forms of subsidies.
The National Economic and Development Authority, he said, is also preparing a comprehensive set of priority policies and strategies for production sectors, which include agriculture and fishery, industry, services and tourism, to enable the economy to recover and transition to the “new normal.”
“A resiliency program, such as but not limited to active labor market programs, job matching and skills upgrading, is likewise being prepared to help insulate our people from future similar crises,” he said.
“Our nation is composed of resilient and hardworking people and we will stand united to weather this health crisis, and together, we will heal and recover as one,” he added.
The Department of Labor and Employment has expressed optimism the labor market would recover with the resumption of some economic activities amid the COVID-19 pandemic.
On Thursday, the House of Representatives approved the the P1.5-trillion COVID-19 Unemployment Reduction Economic Stimulus (CURES) bill.
Under the measure, if passed into law, P500 billion shall be appropriated to fund infrastructure projects prioritizing five sectors health, education, agriculture, local roads and livelihood for each of the three fiscal years.
The P1.5-trillion unemployment reduction funding is on top of the P1.3 trillion economic stimulus package, the Accelerated Recovery and Investments Stimulus for the Economy of the Philippines (ARISE) bill, passed by the House of Representatives.
The ARISE bill also provides for funds for COVID-19 testing.