SSS 'fully prepared' to assist unemployed Filipinos —DOF

The Social Security System is 'fully prepared' to provide assistance to jobless Filipinos even with the unemployment rate at a record low in April, the Department of Finance (DOF) said Monday.

According to Finance Secretary Carlos Dominguez III, the spike in the number of jobless Filipinos was temporary, and those who lost their jobs could seek government assistance.

"With regards to the unemployment, the Social Security System is fully prepared to accept and fund unemployment benefits," he said in a virtual press conference on Monday.

"There is a process for applying for social security unemployment insurance and definitely that is implementable immediately," he added.

This comes as the government last week reported a record-low 17.7% unemployment rate in April, equivalent to an increase of 5 million jobless Filipinos from 2.3 million in April 2019.

The Department of Labor and Employment (DOLE) earlier said up to 10 million jobs could be lost due to the COVID-19 pandemic.

"First of all, let me say that the unemployment figures, I believe, are temporary and they are not surprising," said Dominguez.

"This unemployment is temporary and as soon as we reopen the economy, I think demand will start picking up and people will be back to employment," he added.

After two months of being in lockdown from March, Metro Manila and other high-risk areas were placed in a general community quarantine starting June 1, paving the way for more businesses to reopen.

"In the meantime, as I said, there is unemployment insurance that is available from the SSS," Dominguez said.

"It may not cover everyone, but as the economy opens, I think you will see more and more people who will be employed. It's temporary, nothing structural with our economy," he added. —KG, GMA News