Palace considers giving out ‘unemployment insurance’

Published by rudy Date posted on March 24, 2009

MANILA, Philippines – A government official announced that Malacañang is considering the possibility of granting cash benefits to citizens who lost their jobs due to the current economic crisis, reports said today.

According to National Economic Development Authority Secretary Ralph Recto, this was part of a proposal he made at today’s cabinet meeting.

The proposal states the granting of a P10,000 monthly subsidy to those who lost their jobs due to the crisis. Recto said the monthly benefit will be given for up to six months.

The former senator added that members of Social Security System (SSS), particularly those who have been paying their monthly contributions for the past two years, can avail of the unemployment insurance.

Recto said that upon President Arroyo’s approval, the unemployment insurance will be obtained from SSS funds and the national budget.–Dino Maragay, Philippine Star

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