BSP, DOLE sign data sharing pact to boost policymaking

The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) signed a memorandum of understanding (MOU) on August 29, 2025, to enhance data sharing for improved policymaking.

The agreement was formalized at the BSP Head Office in Manila, with officials from both agencies in attendance.

BSP Governor Eli M. Remolona Jr. said the partnership will enable faster and more informed policy responses by integrating timely and secure labor market data.

“The MOU strengthens our ability to see the whole picture,” Remolona said.

“With secure and timely data sharing, we can respond faster and smarter,” he added.

Remolona emphasized that aligning policies between the BSP and DOLE will ultimately benefit the public.

“Together, we can align our policies to serve the Filipino people better,” he said.

“I am excited for what this partnership will bring. Good data lead to good policy, and good policy leads to good progress,” he added.

Labor Secretary Bienvenido E. Laguesma said the partnership will help improve job facilitation services and strengthen the country’s workforce.

“We at DOLE are optimistic and confident that this strategic partnership will drive progress that genuinely reaches all Filipinos, especially our jobseekers—ultimately strengthening our employment facilitation services, our nation’s workforce, and elevating the quality of employment available to every Filipino,” Laguesma said.

The BSP said access to DOLE’s data will allow it to monitor labor market conditions more closely and craft policies that support price stability.

At the same time, the BSP’s research will help DOLE refine its employment policies, labor market strategies, and delivery of job facilitation services.

Both agencies committed to safeguard information shared under the agreement in compliance with the Data Privacy Act of 2012 and the guidelines of the National Privacy Commission.