The Makati Business Club salutes Philippine workers on this Labor day. We acknowledge the outsize burden they faced during the past two years. Some were essential and frontline workers risking COVID exposure so others could live safely. Others were among the first — and longest — to lose their jobs. Many remain unemployed.

We will join other members of the business community in working with the new administration on policies  that will accelerate job creation and improve the skills and productivity that are key to sustainable growth in workers incomes and benefits. We will work with the government to ensure better work conditions, expand healthcare and social security, and develop unemployment insurance. A 2021 report by the Asia Development bank cites that the Philippines spent 2.98% of its GDP on social services which is significantly lower than the global average of 12.8%.

On skills, we will work with the government on education and training reforms to prepare Filipinos for better jobs. According to at least one estimate, 2.4 million skilled jobs may be left unfilled if there will be no immediate reforms to reskill and upskill Filipino workers as well as improve the education system for the future labor force. 

In the immediate term, we will work with the government to mitigate the effects of rising inflation by protecting or increasing production and addressing supply bottlenecks.

We believe these will help create a strong, skilled, upwardly mobile workforce, which is essential to the globally-competitive, job-creating economy we aspire for the Philippines to be. (1 May 2022)