Posts Tagged ‘Economy’

Why Joblessness Remains High Despite Stellar Growth

By Kathleen A. Martin,
Posted at 11/30/2012 11:41 AM | Updated as of 11/30/2012 11:41 AM

MANILA, Philippines – The economy may have grown a surprising 7.1% in the third quarter but this did not translate to more jobs, a non-government organization claimed, even noting the country’s unemployment rate was relatively higher than that of its Southeast Asian peers.

Socioeconomic planning chief Arsenio Balisacan cited two reasons for this situation: slow growth in the past years and the fast-growing population.

“If you look at our history, we haven’t really grown so much… We have been a laggard for three decades… We’re only starting to build capacity now,” Balisacan told ANC’s Headstart.

“Number two, our population has been growing much faster… The rate of growth of our labor force is so high so we really need to get the economy growing fast,” he added.

In July, the country’s jobless rate was steady at 7% from a year ago but the level was above Thailand’s 0.9%, Vietnam’s 2%, and Indonesia’s 6.5%.

Balisacan said other Southeast Asian countries have grown their economies rapidly while slowing down population growth since the 1980s.

“The challenge really is employment creation. But again, it’s not something you can produce overnight,” he said.
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New Jobs Not Enough as PH Population Continues to Grow

by Kathleen Martin,
Posted at 11/01/2012 4:14 PM | Updated as of 11/01/2012 4:14 PM

MANILA, Philippines – Despite the country’s decreasing unemployment rate, the jobs currently being generated by the government and the private sector are not enough because of the continuous rise in population.

“We may have a growing number of jobs but we are not able to match the growth rate in the labor force,” Jose Ramon Albert, secretary general at the National Statistical Coordination Board, told ANC News Now.

The Philippines managed to curb its unemployment rate to 7% in 2011 from 7.3% in 2010, but it fared behind other Asian countries whose levels were far better.

For instance, Thailand’s unemployment rate stood at 0.7% in 2011, Vietnam at 2%, and Malaysia at 3.1%.

“We have a growing population and it keeps on growing,” Albert pointed out, explaining how continuous creation of jobs in the country does not seem to dramatically pull down the unemployment rate.

“In Malaysia, its unemployment rate used to be similar to ours but they managed to get more jobs relative to their population,” he shared.

Albert also said the government isn’t to blame for the lack of jobs.
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(Video) The Struggle for Birth Control in the Philippines

Published Tuesday, Oct. 02 2012, 9:37 AM EDT
Last updated Tuesday, Oct. 02 2012, 9:37 AM EDT

Philippines seeks legislation that will expand access to birth control measures as a means to lower population and help reduce poverty, but the influential Catholic Church aggressively opposes contraceptive use


Asian Economies to Top Richest List by 2050 – Study

Agence France-Presse
2:18 am | Thursday, August 16th, 2012

A vessel loaded with cargo containers anchors along the wharf at Keppel port in Singapore on July 13, 2012. Singapore, Hong Kong, Taiwan and South Korea are projected to be the world’s richest economies on a per capita basis by 2050, according to a survey by property giant Knight Frank and Citi Private Bank, reported in Singapore media on Wednesday, Aug. 15, 2012. AFP PHOTO / ROSLAN RAHMAN

SINGAPORE—Singapore, Hong Kong, Taiwan and South Korea are projected to be the world’s richest economies on a per capita basis by 2050 as the region’s rapid growth boosts wealth creation, a study showed.

The survey by property giant Knight Frank and Citi Private Bank, reported in Singapore media Wednesday, also showed multimillionaires in Asia will continue to outnumber those in North America and Western Europe by 2050.

Singapore topped the list in 2010 and is expected to keep the top spot in 2050, when the city-state’s gross domestic product (GDP) per capita would reach $137,710.

It will be trailed by Hong Kong ($116,639), Taiwan ($114,093) and South Korea ($107,752) with the United States coming in fifth place, falling from third place in 2010.

Singapore’s 2010 GDP per capita stood at $56,532, while Hong Kong ($45,301) – the only other Asian economy in the top 10 that year – was in fourth place.

Taiwan and South Korea were not even in the top 10 in 2010.
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The Economic Consequences of Reproductive Health and Family Planning

Lancet. 2012 Jul 14; 380(9837):165-71. Epub 2012 Jul 10.

Canning D, Schultz TP.

Department of Global Health and Population, Harvard School of Public Health, Boston, MA 02115, USA.

We consider the evidence for the effect of access to reproductive health services on the achievement of Millennium Development Goals 1, 2, and 3, which aim to eradicate extreme poverty and hunger, achieve universal primary education, and promote gender equality and empower women. At the household level, controlled trials in Matlab, Bangladesh, and Navrongo, Ghana, have shown that increasing access to family planning services reduces fertility and improves birth spacing. In the Matlab study, findings from long-term follow-up showed that women’s earnings, assets, and body-mass indexes, and children’s schooling and body-mass indexes, substantially improved in areas with improved access to family planning services compared with outcomes in control areas. At the macroeconomic level, reductions in fertility enhance economic growth as a result of reduced youth dependency and an increased number of women participating in paid labour.

Copyright © 2012 Elsevier Ltd. All rights reserved.


RH Bill: Key to Attaining Inclusive Growth

FULL DISCLOSURE By Fidel O. Abalos (The Freeman) Updated June 25, 2012 12:00 AM

The past several years, the country’s Gross Domestic Product (GDP) grew significantly. In fact, spurred by consumer demand, the resurgence of exports and investments as well as election-related spending, it grew considerably by 7.3% in 2010. Truth to tell, despite a very much maligned Arroyo administration, our economy parlayed the 2008-2009 recession better than our other Asian neighbors. Moreover, the boom in the outsourcing industry and the steadily increasing remittances from Overseas Filipino Workers (OFWs) that is now nearing US$2 billion per month have added impetus to a once sagging economy. Consequently, our economy grew at a yearly average of 4.5% the past decade.

Despite this rosy picture, however, poverty has worsened. Thus, our countrymen are wondering, why in heaven’s name we claim to have grown significantly and yet majority of our brethrens are languishing in poverty. Is it possible? Yes, it is. For one, economic growth is generally measured in terms of GDP. Increase in GDP does not necessarily trickle down to the grassroots. It simply means that the pace of growth is there but the path or pattern of growth does not cut through the working class or the masses. To put it bluntly, we certainly have “economic growth” but, absolutely, there is no “inclusive growth”.
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Population and Jobs

Details Published on Thursday, 07 June 2012 00:00

‘It is a race between ever-increasing number of people and the ability of the economy to create jobs. The economy loses the race all the time.’

PRESIDENT Aquino is now being blamed for his failure to create enough jobs. The accusation is not exactly false, as it has not been false for all past presidents, except probably during the administrations in the commonwealth period up to the presidencies of Elpidio Quirino and Ramon Magsaysay.

It is not that they were more capable than their successors. It is simply the fact that in their time, fewer people needed jobs. Farmers used antiquated methods but by and large were able to feed their families.

Life was easy. My guess is that in those times the population was probably about 30 million, maybe even less. The soil was richer. The oceans, seas and rivers were clean for marine life to thrive and be sources of livelihood.

As the years wore on, the population increased unceasingly. There was so much pressure on everything. On food, natural resources, on land, forests, rivers and seas, even wild life.

The day came when the birth rate grew to almost 2 percent a year. Because the base became much larger, this easily translated to an estimated two million babies a year. Eighteen years from this year, two million people of age and willing to work will join the labor force.

In 15 years the total population may be expected to be about 120 million.
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