President Ferdinand R. Marcos Jr. signed into law Republic Act 11962, or the Trabaho Para sa Bayan Act on Wednesday, a landmark measure addressing the challenges plaguing the Philippine labor sector and laying the foundation for sustainable and inclusive development.

In a ceremonial signing held at Malacañang, Marcos thanked the Senate and the House of Representatives for the timely passage of the bill, one of his administration's priority legislative measures.

"The Trabaho Para sa Bayan Act is a significant milestone towards our country's sustainable and inclusive development," Marcos said.

"It will help us solve the various challenges plaguing our labor sector such as low-quality jobs, skills mismatch, and underemployment, among others," he added.

The law also addresses the need to update the skills of Filipino workers and promote the use of digital technologies, particularly for micro, small and medium enterprises.

The Trabaho Para sa Bayan Act will establish the Trabaho Para sa Bayan Interagency Council, which will craft a master plan for employment generation and recovery.

The council will be chaired by the Director General of the National Economic and Development Authority, or NEDA, and co-chaired by the secretaries of the Department of Trade and Industry and the Department of Labor and Employment, with representatives from other agencies and various sectors.

All government agencies, including local government units, were enjoined to cooperate and coordinate with the council to ensure the effective integration of the plan into their policies and programs.

Marcos directed the council and all government agencies concerned to fast-track the issuance of the law's implementing rules and regulations so that workers and stakeholders could immediately benefit from it.

He also urged the DoLE and NEDA to harmonize the Labor and Employment Plan 2023-2028 and the Trabaho Para sa Bayan Plan to ensure that all government efforts and resources will be effectively and efficiently managed.

Marcos said the government will continue to provide support and other incentives to businesses, especially MSMEs, such as increased access to financing and capital to promote self-reliance and spur employment generation.

Under the law, the government will also incentivize employers, industry stakeholders, and private partners to facilitate skills development, technology transfer, and knowledge sharing among businesses and workers.

"With this concerted effort, I am confident that we will not only achieve the goals of this law, but we will also realize our vision of Bagong Pilipinas," Marcos said.

The President added that the government knows Filipinos desire decent, stable and dignified jobs.

"With the passage of this law, we are opening a new chapter in our country where there will be sufficient and high-quality employment opportunities for everyone," he said.

He called on everyone to join the government in ensuring the law's success and shaping a prosperous and new Philippines.

In a separate statement, NEDA Secretary Arsenio M. Balisacan welcomed the passage of the Trabaho Para sa Bayan Act.

"We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities, and achieve shared labor market governance," Balisacan said.

"With the passage of the TPB, this will facilitate stronger coordination and partnership among relevant agencies and stakeholders for the efficient implementation of employment programs," he added.

The TPB Plan shall serve as the State's master plan for employment generation and recovery, aiming to achieve short-term goals and a long-term vision of a "Matatag, Maginhawa, at Panatag na Buhay Para sa Bawat Pilipino."

The latest figures from the Philippine Statistics Authority showed 2.27 million unemployed Filipinos in July of this year. This resulted in a 4.8-percent unemployment rate in July, higher than the 4.5 percent in June.

Meanwhile, Senate Majority Leader Joel Villanueva lauded President Marcos for signing the Trabaho Para sa Bayan bill.

"I am thankful to President Marcos for his trust and support to me to lead the legislation of this important measure, which is the key to addressing various challenges and creating jobs in the country," Villanueva said in a statement.

The new law, which Villanueva principally sponsored and authored, aims to institutionalize a National Employment Master Plan to promote jobs-led economic growth and enhanced industry collaboration, provide overall services for worker development, and push for support and incentives to businesses.

Under the law, the government shall establish a national employment generation and recovery master plan with a three-, six-, and 10-year development timeline.