July 04, 2024 - In a message of support delivered by Undersecretary Rosemarie G. Edillon at the 2024 National Employment Summit held on June 27–28, 2024, at the Manila Hotel, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan emphasized the importance of aligning government strategies on employment to benefit from the so-called ‘demographic dividend.’
Balisacan highlighted that this period is crucial for optimizing employment strategies and interventions. As the share of our young, working-age population grows relative to the total population, it becomes essential to ensure that our workforce is healthy, skilled, and equipped with the necessary tools and supporting infrastructure. By doing so, we can harness the potential of the demographic dividend.
Drawing inspiration from dynamic East Asian neighbors who experienced accelerated economic growth during rapid industrialization and development phases, Balisacan urged policymakers to play their cards right. If successful, our economy could also experience faster growth.
The National Employment Summit, organized by the Trabaho Para sa Bayan Inter-Agency Council, serves as a platform for discussing critical employment-related issues and formulating strategies to maximize the benefits of demographic changes.
Note: The ‘demographic dividend’ refers to the economic advantage that arises when a country’s working-age population exceeds its dependent population (children and elderly). Properly harnessing this demographic shift can lead to economic growth and development.