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country's problem,economy,unemployment
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country's problem,economy,unemployment
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The Country's Problem Part III: Unemployment rate, rising; Economy, falling
Unemployment has always been a problem in the Philippines. But it has never been a serious issue as it is right now as more and more Filipinos struggle to lose their jobs due to the lower economic growth.
According to pundits, the government is set to cut anew its economic growth target for this year, which will definitely cause more Filipinos out of their jobs.
"It's not a single case of higher growth and higher employment. Unemployment will worsen definitely because of the lower economic growth," Benjamin Diokno, an economics professor, told the Manila Times.
He said that unemployment rate will still increase eight percent to 8.5 percent in April.
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NEDA Director, Dennis Arroyo said yesterday that economy is not generating enough jobs, that is why the government has again to trim the country's growth target to between 3.1 percent from the current range of 3.7 percent to 4.4 percent. At present, 50, 380 Filipinos in the country have been laid off, while 6,485 overseas workers have been displaced. In the tourism sector alone, slowing growth has dampened job-generation in the industry, the National Statistical Coordination Board (NSCB) said.
According to Romulo Virola, NSCB Secretary General, growth in the industry began slowing the second half of last year, thus failing to sustain the momentum built up since the third quarter of 2006.
Employment industry also dropped to 1.5 percent last year from 3.7 percent last in 2007, slower than the 2.6 percent growth of overall employment.
The rising figures of unemployment rate in the country are alarming and there will be a time that even Filipinos in secured position has to surrender their post. The government has to do something to resolve the problem that has been haunting the country for over the years.
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