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NEDA expects high jobless rate to persist until 2022

Published February 5, 2021, 5:00 AM The National Economic and Development Authority (NEDA) expects the number of jobless Filipinos will not return to its pre-pandemic level next year as the domestic labor market situation is seen to remain “very difficult.” Based on the Updated Philippine Development Plan (PDP) 2017-2022 released by NEDA, the unemployment rate will remain elevated at 7.0 percent to 9.0 percent until 2022, above the 5.1 percent level registered in 2019. The latest PDP goal is also well above the government’s pre-pandemic unemployment rate assumption of 3.0 percent to 5.0 percent by 2022. Acting Socioeconomic Planning Secretary Karl Kendrick Chua (PCOO / MANILA BULLETIN file photo) Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said the expected high jobless rate in 2022 is due to “a big additional supply of workers” following the full implementation of the 12-year basic education program, commonly known as K to 12.

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