PIDS, Nograles push for labor market information system

The Philippine Institute for Development Studies (PIDS) has highlighted the need to improve labor market forecasting through a Labor Market Information System (LMIS) to address skills mismatches and shortages.

PIDS attributes skills mismatches, which hamper productivity and economic competitiveness, to outdated and incomplete labor market information.

A comprehensive LMIS would function as a central database for collecting, analyzing, and disseminating labor market trends, skills demand, and workforce needs.

Rizal Rep. Juan Fidel Felipe F. Nograles, who heads the House labor committee, also called for the implementation of a modernized labor forecasting system to address technical skills gaps and job mismatches of Filipino workers.

According to PIDS Senior Research Fellow Connie Bayudan-Dacuycuy, an LMIS would allow government agencies and industries to pinpoint skill shortages and align educational programs with future labor demands.

She also emphasized the importance of building a skills data foundation, beginning with a detailed skills taxonomy that corresponds with the Philippine Standard Occupational Code.

Mr. Nograles stated that an LMIS would ensure that the Filipino workforce's skill sets would be on par with evolving industry needs.