Sign up | Log in



Home  >>   Daily News  >>   Philippines  News  >>   Labor  >>   Philippines hopes to create a million jobs
NEWS UPDATES Asean Affairs        21  March 2011

Philippines hopes to create a million jobs

Related Stories

August  23, 2010
Philippine employment outlook high

August 4,2010
Growth Program to benefit low-wage workers

July 13, 2010
Indonesia chosen for EU study on free trade and jobs

July 7, 2010
Swiss help Indonesia’s SMEs

June 11, 2010
China: Honda plants resume production

August 7, 2008
Malaysia’s HR minister rejects Nike’s abuse claims

The Aquino administration plans to create a million jobs a year and to triple per capita income through higher economic growth and infrastructure investment in the next six years.

Under the draft Medium Term Philippine Development Plan (MTPDP) for 2011 to 2016, the government expects gross domestic product (GDP) growth to average 7 percent to 8 percent a year, sustaining last year’s 34-year record of 7.3 percent expansion.

Despite faster growth, inflation is expected to settle between 3 and 5 percent until 2014. The blueprint set no targets for 2015 to 2016.

Merchandise exports are forecast to grow 13 percent this year and in 2012 before increasing to an annual rate of 14 percent between 2013 and 2016.

By the end of the plan period, merchandise exports should hit $92 billion.

Imports are projected to grow 18 percent this year and 17 percent from 2012 to 2016.

Given this growth scenario, the Philippine economy would create an average of a million new jobs a year, primarily in the industry and services sectors, with the agriculture sector remaining a net shedder of jobs.

Of the six million jobs target over the plan period, two million will be in the micro, small and medium enterprise (MSME) sector.

The plan also aims for 7.7 million tourism jobs by the end of the plan period, and a doubling of visitor arrivals from three million in 2009 to 6.3 million by 2016, with tourism receipts hitting $4.5 billion.

“If the labor force grows at 2.75 percent annually, the unemployment rate should hover at 6.8 percent to 7.2 percent in the plan period, although it should be noted these numbers do not factor in possible reversals in overseas migration trends as more domestic jobs are created,” the draft MTPDP read.

As of January this year, the unemployment rate stood at 7.4 percent, up from a year ago’s 7.3 percent.

The blueprint also showed that the 7 percent to 8 percent GDP growth target each year would imply a tripling of per capita income to about $5,000 in two decades.

According to the blueprint, sustaining growth in later years will require even higher investment ratios reaching 22 percent by 2016, with the government approving a total investment of P3.796 trillion by then.

As of 2009, the country’s poverty incidence had risen to 26.5 percent from the 2006 level of 26.4 percent.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    21  March 2011 Subsribe Now !
 • Oil prices no threat to Indo budget
Subcribe: Asean Affairs Global Magazine
• Indo exports to Japan should drop, but rebound Asean Affairs Premium
• Malaysia market for electronic sales

• Philippines hopes to create a million jobs

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Increase in Philippines interest rate seen

• Australian take on SGX merger

• Red shirts rally in Northeast

• Thai textiles rebound
Asean Analysis    21   March 2011 Advertise Your Brand
• Asean reacts to Japanese crisis Sponsor Our Events
Asean Stock Watch    21  March 2011
• A Wild Week in ASEAN
Global News Impacting Asia    17 November 2010
• Bank of America sees Asian inflation
• Lloyd’s increases insurance push in Malaysia
• Wells Fargo analyst on euro
• Obama’s visit to Asia

ASEAN NEWS UPDATES      Updated: 04 January 2011

• Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand