MBC urges Marcos admin to prepare for job losses due to US tariffs

The Makati Business Club (MBC) urged the Marcos administration on Thursday, May 1, to prepare for potential job losses due to US tariffs on Philippine goods and other policies.

MBC warned that the 17-percent tariffs could jeopardize the job security of skilled workers in export sectors, particularly in electronics, and impact overseas Filipino workers (OFWs) in America.

The business group highlighted a December 2024 International Monetary Fund report indicating that around 14 percent of Philippine jobs are at risk from AI and over half are highly complementary to it, while a study by the Philippine Institute of Development Studies noted that 29% of Filipino workers lack necessary skills for in-demand jobs.

MBC emphasized the importance of raising worker standards through the recently passed Enterprise-Based Education and Training (EBET) Framework Act, which aims to address job-skills mismatches and unemployment.

To further enhance workers' skills, MBC is advocating for the passage of the Lifelong Learning Development Framework Act in the upcoming 20th Congress, which seeks to institutionalize lifelong learning opportunities through 'Learning Cities' and 'Learning Municipalities'.

The proposed legislation aims to empower local governments to create tailored learning opportunities and strengthen micro-credentialing initiatives.

MBC believes that these reforms will contribute to creating a more skilled and competitive Filipino workforce in the face of increasing AI adaptation.