The official unemployment figures for the Philippines in 2011 are among the worst in Asia, higher than its South-East Asian neighbours and according to the International Labor Organization the country is among the worst one-fourth in the world in terms of unemployment rates. Without a strong manufacturing industry or real Filipino industry, the economy will be unable to create enough decent paying jobs. Till then manufacturing or services will remain substandard, or of low value-addition. According to employment figures, jobs in the Philippines manufacturing sector increased by just 8% of the total employment. Nearly three out of every ten people in the labor force are looking for work or are jobless. The mining sub-sector said to be one of the fastest growing industry in 2011 failed to generate new jobs (just 0.6 % of total employment).

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REACTION

The inflation rate in Philippines was last reported at 3 percent in April of 2012. It was lower compared in January (7.2%), March (6,7%) and higher than February (2.7%). High rate of unemployment here in the Philippines causes Filipino people to work abroad and migrate.  Although it helps in our money exchange but the fact that Filipino should work and serve here in our country and not being overruled or serve as a slave to other nation. Lack of education is the number factor of unemployment and this is due to poverty. Also, steadily rising inflation has contributed to the erosion of the value of the minimum wage. Though the Aquino administration increased the minimum wage and announced cash dole-outs but lack of quality decent paying jobs and higher real wages continue to be a problem. The government's policy to encourage foreign capital, even if in just low value-added assembly operations will continue to hinder real growth and development of the manufacturing sector. The Aquino administration needs to plan over the long-term, and prepare an industrialization program that encourages value-addition manufacturing or services and builds Filipino-owned industries.