The latest unemployment rate of 8.7% in April from 7.1% in March is not unexpected with the heightened restrictions imposed during this period. However, this is deemed temporary as we are back in the process of the gradual, calibrated, and safe reopening of the economy to protect both our people and jobs, and we are confident that we are well on track towards a V-shaped economic recovery.
Additionally, with the arrival of more vaccines this month, and the rollout of our vaccination for the 35 million A4 priority group or the economic frontliners, we can expect a significant acceleration of vaccine capacity towards the 500,000 jabs per day level. This will allow us to fast-track the vaccination rollout and achieve higher immunity and greater consumer and business confidence sooner than later.
This, in turn, will lead to higher consumption of our local goods and services, empower more businesses, and generate more employment opportunities for our Filipinos.
That is why DTI is one with the National Task Force against COVID-19 (NTF) in encouraging all Filipinos to get inoculated. We firmly believe that the jab in the arm of the economic frontliners is a shot in the arm for economic recovery, that will bring back more jobs for our people.
As we continue to push for more sectors to reopen, we also implement initiatives to boost confidence for our establishments through the Safety Seal, as well as advocate for fully vaccinated senior citizens to be allowed out of their homes, DTI is fully committed to helping bring back more employment opportunities for our Filipino workers.
Serving as Chair of both the Task Group on Economic Recovery (TGER) and National Employment Recovery Strategy (NERS), we will continue to work with the different agencies and the private sector in achieving a whole-of-society approach towards the improvement of our labor market and sustained economic stability. Specifically, we are dedicated to continuously implement policies and programs indicated in the NERS 8-Point Employment Recovery Agenda, as well as reforms that would improve the business environment in the country. ♦
Date of Release: 11 June 2021