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Filipino Workers to Face Mass Layoffs in 2004
Nov 18, 2003
The Employment Confederation of the Philippines (ECOP) warns Filipino workers of the forecasted massive retrenchment and a higher unemployment rate in 2004 due to lack of new investors.
"I think we are going to see higher unemployment come April or second quarter of next year," said ECOP president Donald Dee. He noted that the Phillipines is neither getting new investments nor business expansions that can generate new jobs.
Dee stated that current trends show the country is posting more job losses, particularly in labor-intensive sectors such as agriculture and manufacturing as compared to the number of newly created jobs.
"More than a million Filipinos join the workforce every year but the government is not creating any jobs for them," he added.
The labor groups' plan to seek an increase in daily minimum wages early next year may also trigger the high unemployment rate.
In a report generated from the National Statistics Office (NSO), it is indicated that there are currently 4.35 million jobless Filipinos or about 540,000 more than last year's head count.
Dee concluded that the goverment must not only focus on luring investors and creating job opportunities but should also stop politicking to stop scaring the investors away from the Philippines.
"I think we are going to see higher unemployment come April or second quarter of next year," said ECOP president Donald Dee. He noted that the Phillipines is neither getting new investments nor business expansions that can generate new jobs.
Dee stated that current trends show the country is posting more job losses, particularly in labor-intensive sectors such as agriculture and manufacturing as compared to the number of newly created jobs.
"More than a million Filipinos join the workforce every year but the government is not creating any jobs for them," he added.
The labor groups' plan to seek an increase in daily minimum wages early next year may also trigger the high unemployment rate.
In a report generated from the National Statistics Office (NSO), it is indicated that there are currently 4.35 million jobless Filipinos or about 540,000 more than last year's head count.
Dee concluded that the goverment must not only focus on luring investors and creating job opportunities but should also stop politicking to stop scaring the investors away from the Philippines.
