WB council ties seen providing jobs boost

Finance Secretary Ralph Recto sees a bigger pool of job opportunities for Filipinos through its partnership with the World Bank’s High-Level Advisory Council on Jobs.

In a statement on Thursday, the Department of Finance (DoF) said Recto sat in a meeting with World Bank Group (WBG) managing director of operations Anna Bjerde on 22 October to discuss job growth in the country that has posted declining unemployment rates.

The WB’s High-Level Advisory Council pools insights from governments, businesses, civil groups, and academicians to create policies and programs for generating jobs, especially for women and the youth.

Jobless Filipinos decreased to 2.07 million in August from 2.38 million in July, bringing down the unemployment rate to 4 percent from 4.7 percent, according to the Philippine Statistics Authority.

Commendations given

Thus, working Filipinos increased to 49.15 million from 47.7 million.

“Bjerde also commended the Philippines for its efforts to enhance gender inclusion in finance, social protection programs and digitalization,” DoF said.

In a meeting with WB regional vice president for East Asia and the Pacific Manuela Ferro also last Tuesday, Recto expressed hopes to attract investments in manufacturing, digital industries, clean energy, and agriculture in increasing jobs in the country.

‘Bjerde also commended the Philippines for its efforts to enhance gender inclusion in finance, social protection programs and digitalization.’

National statistics showed players in the wholesale and retail trade industries hired the most workers in August, with 1.15 million more employees than the figure recorded in July.

Recto joined the four-day 2024 World Bank-International Monetary Fund Annual Meetings in Washington, D.C. which will run until 25 October.