The Employers Confederation of the Philippines (ECOP) expressed optimism about a positive Christmas season for both employers and employees.
It predicted a more lively job market during the holiday season, with increased hiring in retail, hospitality and service industries.
“While we are pleased to see a decline in unemployment, we must strive to create more quality jobs that can provide a decent livelihood for Filipinos. This requires a concerted effort from both the government and the private sector to improve the business environment and attract more investments,” said ECOP president Sergio Ortiz-Luis Jr.
Unemployment rate dropped from 2.38 million in July 2024 to 2.07 million in August 2024.
The group is positive about the overall outlook for the holidays, except for micro enterprises and the informal sector, which continue to rely on government support programs like the conditional cash transfer (CCT) and the Small Enterprise Development Program (SEDP).
Ortiz-Luis said, however, the issue of security of tenure might deter mass hiring by some companies, especially in sectors with high labor costs and seasonal demand.
ECOP said it is actively working with large malls to organize job fairs and signed memoranda of understanding to develop an online job platform to facilitate hiring processes. They aim to connect job seekers with employers more efficiently and reduce the cost of recruitment for businesses.
ECOP stressed the need to attract more foreign investments and improve the ease of doing business to create more job opportunities for Filipinos.
