February 07, 2013

14 Million Jobs for 2016 - NEDA

Mayvelin U. Caraballo - Manila Times
News Summarized by Biznewsph

The National Economic and Development Authority (NEDA) reported on Thursday that they saw a big possibility that the Philippine economy will generate 14 million jobs by 2016.

NEDA Director General and Socioeconomic Planning Secretary Arsenio Balisacan revealed in a lunch briefing  that the labor force of the Philippines is growing more than a million every year that he is expecting that the employment would grow more than that. 

Despite having a high unemployment rate, there is still a good possibility to generate 14 million jobs by 2016 through generating 3 to 4 million jobs every year. This is also required an approximate $3 billion.

Arsenio Balisacan also said that the Government must enhance or sharpen it's focus on sectors that are generating high quantity of jobs such as business process outsourcing (BPO), tourism, and agriculture. 

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