The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) have formalized a partnership to enhance data sharing, aiming to craft more responsive and evidence-based policies.

Signed on August 29 at the BSP head office in Manila, the memorandum of understanding (MOU) allows both agencies to share relevant datasets to improve labor market monitoring, price stability measures, and employment programs.

“The MOU strengthens our ability to see the whole picture. With secure and timely data sharing, we can respond faster and smarter,” said BSP Governor Eli Remolona Jr. “Good data lead to good policy, and good policy leads to good progress.”

BSP will leverage DOLE’s labor market data to produce research that supports employment strategies, while DOLE will benefit from BSP’s analyses to sharpen its facilitation services and policies for Filipino workers.

Both agencies committed to uphold data privacy and security under the Data Privacy Act of 2012 and National Privacy Commission guidelines.

Labor Secretary Bienvenido Laguesma expressed optimism: “This strategic partnership will drive progress that genuinely reaches all Filipinos, especially jobseekers—ultimately strengthening our nation’s workforce and elevating the quality of employment.”