SENATOR Joel Villanueva said the government should boost the country’s micro small and medium enterprises (MSMEs) to address lingering unemployment and underemployment problems.
Villanueva, reacting to the latest job data, said the General Appropriations Act of 2026 should focus on enhancing the competitiveness and sustainability of Filipino medium and small businesses to create more jobs and address poverty.
“We must improve on our employment figures on a month-to-month and year-to-year basis for a realistic job growth figure and one strategy to raise employment is by strengthening the lifeblood of our economy, the MSMEs, through focused government support. Where MSMEs thrive, communities prosper,” the senator said.
Latest data from Philippine Statistics Authority’s Labor Force Survey showed that the unemployment rate in November dipped slightly to 4.4 percent, translating to 2.25 million jobless Filipinos, which is down from 5 percent, or 2.59 million unemployed, in October.
In the Philippines, MSMEs comprise 99.63% of all registered business establishments and account for 66.97% of the total employment as of 2023.
“The budget must be used judiciously and effectively to empower MSMEs, create quality jobs and inspire inclusive growth,” Villanueva said.
The senator pushed anew for the passage of his Senate Bill No. 1155 or the MSME Stimulus Act to institutionalize support for MSMEs to facilitate their growth for job generation.
A key element in the bill highlights aid for MSMEs to sustain their operations in times of national emergencies, natural disasters, public health crises, and other unforeseen events that pose risk to business continuity.
Under the bill, MSMEs may avail of interest free loans from the Land Bank of the Philippines and the Development Bank of the Philippines to support growth assistance, regional job creation and continued business operation.
The measure also provides a wage subsidy to cover all or a portion of the wages of the employees of qualified MSMEs.
“There’s no more question about the purpose and passion of MSMEs to survive and thrive. What the government needs to do is to match these with programs and policies that would put the so-called economy’s backbone at the center of attention,” Villanueva said. (UnliNews Online)
