President Ferdinand Marcos Jr. on Thursday assured the Filipino nation that the government is doing everything it can to cushion the impact of the rise in prices of basic goods and services.

In a video message released by the Office of the Press Secretary, the President said that despite the high inflation, he is seeing "bright prospects" for the country's economy after the unemployment rate dropped in October.

"Ang balita na tumaas ang inflation rate na hanggang eight percent last November. Mayroon naman kasabay na mas magandang balita na bumaba ang unemployment rate sa four and a half percent mula sa five percent," Marcos said.

"Kaya't kahit papaano ay malakas ang loob natin na hindi tayo magkakaroon ng recession dito sa Pilipinas dahil masyadong mababa ang unemployment rate," he added.

Marcos emphasized that generating jobs has always been his administration's priority and will continue to do so to uplift the lives of all Filipinos.

"Kung maaalala ninyo, sa pagsimula namin dito sa administrasyong ito ay pinag-usapan na namin ay trabaho talaga ang aming uunahin. Kaya't 'yan ang nakikita ngayon natin na nangyayari. Ipagpatuloy lang natin 'yan," he said.