Hire more seniors in private sectors — NEDA chief
National Economic and Development Authority (NEDA) Director General Arsenio Balisacan urged the private sector to open employment opportunities to senior citizens who are venturing back into the job market.
During a press briefing, Balisacan — who is also the Socioeconomic Planning Secretary — said that other countries like Japan and South Korea started employing senior citizens as life expectancy increases.
The secretary stated that the Philippines would have to follow suit in giving opportunities to seniors as they remained “very productive” despite reaching retirement age.
“I suspect old guys like me can also be trained in digital… we can do that,” Balisacan added. “I think that the trick here is just to open up the possibilities, and let the people choose what best fits them.”
The NEDA chief’s call came after the Philippine Statistics Authority (PSA) reported that the labor force participation rate (LFPR) for those age 65 and above—or the number of senior citizens either working or actively looking for a job— increased to 38.2% in June.
National Statistician Dennis Mapa said that this age group is looking for regular jobs because they want more earnings to help them cope with rising prices in the country.
