National Economic and Development Authority (NEDA) Applauds Passage of Trabaho Para sa Bayan Act
The National Economic and Development Authority (NEDA) celebrates the landmark approval of the Trabaho Para sa Bayan Act, signed into law by President Ferdinand R. Marcos Jr. on September 27, 2023.
In an era marked by economic challenges and workforce transformations, the Trabaho Para sa Bayan (TPB) Plan emerges as a pivotal solution to address critical issues in the labor market. The comprehensive legislation takes aim at unemployment, underemployment, youth unemployment, the growing precarity of working arrangements, the reintegration of Overseas Filipino Workers, and other pressing challenges.
NEDA Secretary Arsenio M. Balisacan expressed full support for the Trabaho Para sa Bayan Act, emphasizing its alignment with the Philippine Development Plan 2023-2028. “We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities, and achieve shared labor market governance,” stated Secretary Balisacan.
The TPB Plan sets forth a strategic agenda, focusing on enhancing the employability and competitiveness of Filipino workers through targeted upskilling and reskilling initiatives. Moreover, it places a strong emphasis on bolstering support for micro, small, and medium enterprises (MSMEs) and industry stakeholders.
To ensure the effective implementation of the Act, the TPB Inter-Agency Council (IAC), under the leadership of NEDA Secretary Balisacan, will conduct a thorough analysis of the employment landscape and labor market dynamics in the Philippines. The Council is tasked with optimizing resources, fostering synergy among government initiatives, and promoting a harmonized approach to addressing employment challenges.
The TPB-IAC will play a crucial role in assisting local government units in developing and executing employment generation and recovery plans tailored to their specific needs. Secretary Balisacan affirmed, “With the passage of the TPB, this will facilitate stronger coordination and partnership among relevant agencies and stakeholders for the efficient implementation of employment programs.”
The Trabaho Para sa Bayan Plan emerges as the State’s master plan for employment generation and recovery, pursuing both short-term goals and a long-term vision of a matatag, maginhawa, at panatag na buhay para sa bawat Pilipino.
About NEDA:
The National Economic and Development Authority (NEDA) is the premier socioeconomic planning body in the Philippines, responsible for formulating policies and programs to promote sustainable economic growth and development. NEDA envisions a resilient and prosperous Filipino society, guided by evidence-based and inclusive planning.
About Trabaho Para sa Bayan Act:
The Trabaho Para sa Bayan Act is a landmark legislation aimed at addressing unemployment, underemployment, and other labor market challenges in the Philippines. Enacted on September 27, 2023, the Act establishes a comprehensive framework, the Trabaho Para sa Bayan Plan, to guide and coordinate efforts towards a robust and inclusive labor market.
