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Philippine Jobs Report: Shaping a Better Future for the Filipino Workforce
(Washington, DC, 2023-03-27)Shaping a Better Future for the Filipino Workforce aims to inform jobs policy by examining key determinants and outcomes of jobs. Jobs are created when the macroeconomic environment is conducive and policies are predictable to businesses with sustained growth, trades, and investments. At the same time, a large body of literature also shows that economic growth alone is not sufficient for generating jobs. Jobs are created when firms pursue expansion through innovation and competitiveness and demand for more labor input, while workers’ skills and human capital are able to meet the needs of firms. Intrahousehold resource allocation and decisions for labor supply also affect the jobs outcomes. It is not uncommon that workers as self-employed create jobs by initiating their own business. The market clearing process of labor is then affected by labor market institutions, most notably labor market regulations and labor policies and programs. These are key determinants of how easy it is to start a business or to hire a worker, how high labor costs are, and how efficiently firms and workers are matched. Part I looks into the country’s labor market in chronological order, while Part II discusses three major areas of Philippine jobs - labor regulation, international migration, and emerging demands for green and digital jobs.