Close  

Despite high economic growth, PH has highest unemployment rate in Asean

By: - NewsLab Lead / @MSantosINQ
/ 06:48 PM September 03, 2012

Job applicants browse newspapers for job vacancies as they queue up at a job fair in Manila in this file photo. Despite the respectably high economic growth rate that the country registered in the second quarter of 2012, the Philippines has the worst unemployment rate in Southeast Asia, according to Ibon Foundation. AFP PHOTO/TED ALJIBE

MANILA, Philippines—Despite the respectably high economic growth rate that the country registered in the second quarter, the Philippines has the worst unemployment rate in Southeast Asia, independent think tank Ibon Foundation has pointed out.

ADVERTISEMENT

“The Philippines’ average economic growth is reportedly higher than some Southeast Asian countries but at the same time, it also has the worst unemployment rates in the region,” Ibon Foundation Executive Director Sonny Africa said in a statement.

The government had reported that the country’s second-quarter Gross Domestic Product (GDP) grew by 5.9 percent year on year.

FEATURED STORIES

This was higher than the average growth of the region at 4.7 percent and faster than that of Malaysia (5.4 percent), Thailand (4.2 percent), Vietnam (4.4 percent), Singapore (2.0 percent), although lower than Indonesia’s 6.4 percent and China’s 7.8 percent.

Africa, however, said, citing 2011 official figures, that the Philippines unemployment rate was “the worst in Southeast Asia and more than double the regional average.”

“The country’s unemployment rate of 7 percent in 2011 was more than double the regional average of 3.2 percent and higher than in Indonesia (6.6 percent), Myanmar (4.0 percent), Malaysia (3.1 percent), Singapore (2.7 percent), Brunei (2.6 percent), Vietnam (2.0 percent), Cambodia (1.7 percent), Laos (1.4 percent) and Thailand (0.7 percent),” Africa said.

He added that the disparity between the high GDP growth and the unemployment rate “further highlights the exclusionary character of the country’s growth.”

“The country’s unemployment crisis will remain unresolved without a genuine thrust to develop Filipino manufacturing and domestic agriculture,” Africa said.

“Unfortunately, the government persists in promoting low employment and low value-added sectors such as business process outsourcing (BPO), mining, tourism, enclave manufacturing for export, and cheap labor export. These are sectors where foreign investors and economies benefit disproportionately more than Filipinos,” he said.

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: ASEAN, economy, Philippines, unemployment
For feedback, complaints, or inquiries, contact us.
opinion

Panic in the air

November 19, 2019 05:15 AM

opinion

Bottled air

November 19, 2019 05:13 AM

opinion

‘I will destroy her in public’

November 19, 2019 05:11 AM

newsinfo

Police find man in viral ‘Grand Taft Auto’ video 

November 19, 2019 05:10 AM

opinion

5 myths of Dutertismo (1) 

November 19, 2019 05:09 AM



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.