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Nearly 70 million working-age Pinoys can help boost economy: POPCOM

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Rowegie Abanto, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Construction workers on top of an unfinished building in Makati on August 24, 2022. George Calvelo, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/11/24/20220824-building-skyline-construction-gc-17.jpg"/><figcaption>Construction workers on top of an unfinished building in Makati on August 24, 2022.<em> George Calvelo, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA — The Philippines&#x27; population agency has said that the increasing number of employable Filipinos can boost the nation&#x27;s economy — which is still reeling from the effects of COVID-19 lockdowns — if they are &quot;fully maximized and harnessed.&quot;</p><p>According to the Philippine Statistics Authority&#x27;s (PSA) 2020 Census of Population and Housing,<a href="https://popcom.gov.ph/population-and-development-popdev-week-november-23-to-29-2022-popcom-around-70-million-working-age-pinoys-can-provide-much-needed-boost-to-national-economy/"> more than half</a> — or 69.40 million — of 2020&#x27;s total population are within the 15 to 64 years old working-age bracket. </p><p>The Commission on Population and Development (POPCOM) said the &quot;huge segment&quot; provides an opportunity to elevate the country&#x27;s socioeconomic conditions.</p><p>&quot;This demographic opportunity can be a key factor to achieve the country’s higher socio-economic objectives. It is rare, and we cannot afford to miss it,&quot; said POPCOM Officer in Charge-Executive Director Lolito Tacardon.</p><p>However, Tacardon said the national government needs to provide a consistent stream of quality jobs and appropriately capacitate them so they can acquire the needed skills required by industries.</p><p>&quot;This should be a priority,&quot; he said.</p><p>&quot;Otherwise, we might miss the chance to hasten the country’s socio-economic growth to further improve the quality of life of every Filipino.&quot;</p><p>The official said that the increase in the number of productive Filipinos is a result of collective efforts in decreasing the levels of fertility and mortality nationwide.</p><p>The commission recently noted that the country&#x27;s fertility rate has dropped, offering an opportunity to improve the nation&#x27;s socioeconomic development.</p><p>&quot;Focus should now be on ensuring that the quality and capacity of the country’s human resources are enhanced. At the household level, lower fertility also means greater opportunity for personal development of couples and individuals, which can redound to more savings and investments,&quot; Tacardon said in a separate <a href="https://popcom.gov.ph/as-world-marks-8-billion-population-milestone-fertility-rate-drops-in-the-philippines/">statement</a>.</p><p>He also said that with sound policies and a quality labor force, the demographic shift can work to the country’s advantage.</p><p>&quot;[W]e call on the present administration to exert supplementary efforts in investing in the nation’s human and physical capital by channeling resources on health, education, infrastructure, and technology, which can help our country further boost productivity.&quot;</p><p>The Philippines&#x27; <a href="https://news.abs-cbn.com/business/11/08/22/jobless-rate-eases-but-underemployment-climbs-in-sept">unemployment rate</a> eased in September but the underemployment rate also climbed, recent data from the PSA showed.</p><p>The nation&#x27;s economy also expanded faster in the third quarter despite quickening inflation, rising interest rates, the depreciating peso, and continued global challenges. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/10/22/philippine-gdp-grows-76-percent-in-third-quarter">Philippine economy grows 7.6 percent in third quarter, on track for full-year target</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2352929" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

POPCOM said the increasing number of employable Filipinos can boost the nation's economy if they are 'fully maximized and harnessed.'

Nearly 70 million working-age Pinoys can help boost economy: POPCOM

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Nearly 70 million working-age Pinoys can help boost economy: POPCOM

Rowegie Abanto,

ABS-CBN News

Published November 24, 2022 02:09 PM PHT

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