Loren refiles bill amending PESO Act to create more jobs
August 18, 2022Senator Loren Legarda has refiled a bill that seeks to amend Republic Act 8759 or the Public Employment Service Office (PESO) Act of 1999 to include entrepreneurship and provide better employment and entrepreneurial opportunities suited for each Filipino.
She said that this amendment to the law would address the drawn-out issue of unemployment and underemployment in the Philippines.
Legarda echoed her previous statement that the promotion of entrepreneurship will be able to hone the skills of Filipinos and will encourage self-employment opportunities, and generate more jobs.
“The Philippine Statistics Authority reported that about 2.87 million Filipinos were unemployed in March 2022. Meanwhile, the underemployment rate increased from 14% in February to 15.8% in March 2022,” she said.
Legarda said she recognized the role of entrepreneurs in stimulating the country’s economic growth.
“The Department of Trade and Industry reported that entrepreneurs have managed to generate 62.4 percent of the country’s employment or over five million jobs. Unarguably, entrepreneurs play a key role in creating job opportunities and consequently in stimulating the country’s economic growth,” she said.
The measure also intends to rename the PESO offices to Public Employment and Entrepreneurship Service Office and establish a Barangay Employment and Entrepreneurship Service Office in barangays.
Source: Politiko