THE number of jobless Filipinos are expected to rise this year and in 2012 because of the economic slowdown in the US and Europe, a senior official of the National Economic and Development Authority (NEDA) warned Thursday.
Ruperto Macuja, NEDA assistant director general, said the Philippine unemployment rate is expected to increase by 0.25 percentage points, translating to about 100,000 persons who would lose their jobs because of the global crisis.
For next year, Ruperto estimated a 0.30-percentage point increase in unemployment rate, or 123,000 persons who may lose their jobs.
Data from the National Statistics Office showed that the unemployment rose to 7.1 percent last July to 2.82 million, higher than the 7 percent, or 2.71 million unemployed in July last year.
In terms of economic impact, Ruperto said the slowdown in the US and Europe could cut Philippine gross domestic product by 0.8 percentage points this year and another 0.8 percentage points in 2012.
“NEDA is vigilantly monitoring and we have advised the President about this and we have counter solutions for slowdown globally,” he said.
The slowdown would cut GDP by 0.7 percentage points in the third quarter and 0.9 percentage points in the fourth quarter, the official said. “We see that in the production, the industry sector will be most affected. Services and agriculture will be affected,” Macuja said.
On the expenditure side, exports and investments will bear the brunt of the slowdown, he said. To counter the global slowdown, the government will implement a massive infrastructure spending in the transport and power sectors, the NEDA official said.
“We can also strengthen domestic demand and in social expenditure,” he added. The country’s GDP growth slowed to 3.4 percent in the second quarter from 8.9-percent last year.
GDP refers to the total value of final goods and services produced in the country. During the first half of the year, the economy grew by 4 percent, much lower than the government’s target of 7 percent to 8 percent this year. –Darwin G. Amojelar Senior Reporter, Manila Times
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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