Term Paper
Aquino gov't falls short of jobs, spending targets
JOBS NEEDED. While the Philippine economy enjoyed highs in 2012, millions of Filipinos are in search of decent jobs. Photo by AFP.
MANILA, Philippines - The Aquino administration has fallen short of its employment generation target of a million per year, while its public spending ratio continued to slide.
In the Socioeconomic Report (SER) 2010-2012 released by the National Economic and Development Authority (NEDA), the agency said the administration was only able to create an average of 997,000 jobs per year.
Its spending, on the other hand, was equivalent to about 12.8% of the country's gross domestic product (GDP) in 2012, lower than the 13.1% recorded in 2011, and 13.6% in 2010.
"To catch up with the targets in the PDP [Philippine Development Plan], the government will continue to partner with the private sector in developing the industry and services sector," the SER said.
"These strategies must however be founded on good governance, accountability, and transparency which are the overarching framework of the national government," it added.
Poor quality jobs
Apart from the government falling behind its job targets, the NEDA said the "more serious problem" is poor quality jobs seen through the number of underemployed in the country.
The NEDA said around one-fifth of all employed Filipinos are looking for better jobs. This means that one in 5 employed Filipinos are looking for longer work hours or additional jobs to make ends meet.
"Unlike unemployment which mainly affects the youth and the educated workforce, underemployment cuts across age and sex groups and is particularly pronounced among the less educated workforce and in regions where agriculture is the dominant sector," the report stated.
The report added that in July 2012, there were 8.546 million underemployed Filipinos. This was more than thrice the 2.842 million underemployed in July 2011.
The NEDA added that the expansion in
JOBS NEEDED. While the Philippine economy enjoyed highs in 2012, millions of Filipinos are in search of decent jobs. Photo by AFP.
MANILA, Philippines - The Aquino administration has fallen short of its employment generation target of a million per year, while its public spending ratio continued to slide.
In the Socioeconomic Report (SER) 2010-2012 released by the National Economic and Development Authority (NEDA), the agency said the administration was only able to create an average of 997,000 jobs per year.
Its spending, on the other hand, was equivalent to about 12.8% of the country's gross domestic product (GDP) in 2012, lower than the 13.1% recorded in 2011, and 13.6% in 2010.
"To catch up with the targets in the PDP [Philippine Development Plan], the government will continue to partner with the private sector in developing the industry and services sector," the SER said.
"These strategies must however be founded on good governance, accountability, and transparency which are the overarching framework of the national government," it added.
Poor quality jobs
Apart from the government falling behind its job targets, the NEDA said the "more serious problem" is poor quality jobs seen through the number of underemployed in the country.
The NEDA said around one-fifth of all employed Filipinos are looking for better jobs. This means that one in 5 employed Filipinos are looking for longer work hours or additional jobs to make ends meet.
"Unlike unemployment which mainly affects the youth and the educated workforce, underemployment cuts across age and sex groups and is particularly pronounced among the less educated workforce and in regions where agriculture is the dominant sector," the report stated.
The report added that in July 2012, there were 8.546 million underemployed Filipinos. This was more than thrice the 2.842 million underemployed in July 2011.
The NEDA added that the expansion in