A World Bank official has called the huge number of unemployment and underemployment in the Philippines as a huge challenge for the Aquino administration.
“The need for good jobs — jobs that raise real wages or bring people out of poverty — is an overwhelming challenge,” Motoo Konoshi, World Bank Country Director, speaking before hundreds of local and international delegates at the Philippine Development Forum at the Marco Polo hotel here on Monday, said.
He cited collaboration as a simple formula to address the situation.
“We all need to collaborate a lot to ensure that all of our programs and assistance or policy reforms are filtered through the lens of the creation of jobs,” he said.
He said inclusive growth (creating jobs), the focus of the conference, meant addressing the need to create a total of 14.6 million jobs in the Philippines between now and 2016.
Konishi placed at 10 million the number of unemployed or underemployed Filipinos, with 1.1 million more entering the labor force every year, or a total of 14.6 million jobs that should be created during President Aquino’s term.
He said the domestic job market in the formal, services, manufacturing industries and jobs abroad have not been enough to absorb a lot of people getting into the labor force.
Choosen excerpts by Job Market Monitor from
via Creating ‘good jobs’ an overwhelming challenge to Aquino gov’t—World Bank | Inquirer Business.
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