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Neda says $3B needed to create 600,000 jobs


MANILA, Philippines—With $3 billion worth of investments needed just to create some 621,000 jobs, government will have to step up its effort to generate employment by addressing the frequent mismatch in skills and developing key business sectors, the National Economic and Development Authority (Neda) said over the weekend.

Socioeconomic Planning Secretary Arsenio M. Balisacan, who is also Neda director general, cited manufacturing, business process outsourcing, tourism and agribusiness as labor-intensive sectors with great potential for innovation and technology spillovers.

“Our initial estimates suggest that $3 billion [worth of] investments in these sectors will create 621,000 jobs,” Balisacan said.

Government is tackling policy inconsistencies and administrative inefficiencies that tend to hinder job creation. Though skills mismatch also serves as a constraint to employment generation, he said the Commission on Higher Education and Technical Education and Skills Development Authority are working with colleges and schools to ensure that the courses being offered match potential job openings.

At the same time, the K-12 program is meant to ensure that students learn enough basic skills to facilitate the acquisition of advanced skills through training and to support innovative activity, Balisacan added.

According to data from the National Statistics Office, the number of employed Filipinos increased from 36.5 million in October 2010 to 37.7 million in October 2012. This corresponded to a drop in the unemployment rate from 7.1 percent to 6.8 percent during the same period.

The Philippines needs to generate 14 million jobs between now and 2016 to bring people out of poverty, according to World Bank country director Motoo Konishi.

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Tags: Employment , Investments , jobs , National Economic and Development Authority (Neda) , Philippines

  • http://profile.yahoo.com/AND7MQ5FERICDOIAUW56RYT45A tower_of_power

    Put in place an environment conducive to business and you will be surprised how our economy will grow!!!! Pnoy promised an even playing field ….. this is where the push is most needed!!! An even playing field calls for elimination of corruption … a responsive justice system … education system that truly prepares the rightful students for postings to the needs of the various industries … improved peace and order … and bureaucracies that are forward looking and responsive to the needs of time … etc etc etc…

    Kailan kaya mangyari yang even playing field????

  • FernandoBusi

    Buti naman they adjusted their numbers na to a more realistic 621K. Instead of the 3M-4M they were claiming in a previous report. 

  • billy gunner

    contractuals again?

  • ApoLapullapu

    There are plenty of employment opportunities in agriculture.  But the sector must be made more profitable so that more people will venture into it.

  • dodong1

    stop corruption, STOP bureaucratic mess when a foreign investor come in, STOP lagay system and we will attract investors….that 3 billion dollars investments is a small amount if all these items that i have mentioned above is eliminated.

  • Hayek_sa_Maynila

    We need to put the $85Bb USD of the BSP to work. What’s the plan to mobilize this?

    • FernandoBusi

      That can’t be tapped its not exactly government money. 

      • Hayek_sa_Maynila

        Ok I’ll be more specific FB:

        Why then is the BTr still issuing GPNs? Why doesn’t the DoF just source all of its USD requirements from the BSP and issue bonds in the local market instead? 25 Year PHP Gov Bonds are now trading at sub-5.0%, why can’t the BTr just go 100% local when financing its deficit?

        Where are the infra, capex projects of the NG that will help the BSP buy more USD in the market and help avoid PHP overvaluation? Where are the seaports, post-harvest and cold storage facilities that our farm and fishery sectors badly need to stay competitive by the time tariffs are cut to zero in the ASEAN in 2015?

      • FernandoBusi

        They don’t want to do it they want PPP so money can be made out of whats supposed to be government services. 

      • Hayek_sa_Maynila

        that theory doesn’t hold water…PPPs should have moved in 2011 if this government had wanted to steal from them…the truth instead, is that nothing is happening…more likely the result of this govt’s being too careful…careful not to make even the smallest mistake…even if not doing anything means huge foregone opportunities for the whole country.

  • http://pulse.yahoo.com/_TFIZ5ISYUKPA3PYORE3YGUYR24 barangan na agokoy

    so, put it in the budget… alam nyo naman pala eh..

  • bogli_anakdami

    simpol lang yan…


    knowing flip gung gongs are born magnanakaws, i know that’s next to impossible… but, it’s not bad to dream…

    yun lang…

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