NEDA Seeks Economic Impact Assessment

Article excerpt

MANILA, Philippines - The National Economic and Development Authority (NEDA) has stressed the need for the government to plan and prepare for the possible macroeconomic and social impact of natural disaster and the continuing crisis in the Middle East especially on the labor sector.

Socio-economic Planning Secretary Cayetano Paderanga Jr. said the government would exhaust all measures to ensure the protection of all Filipino workers.

He also stressed that the government will also speed up public infrastructure development and intensify measures that improve governance, strengthen institutions, and reduce the cost of doing business.

"We will also further intensify current programs that address the labor mismatch problems, in order to improve the quality of employment, and provide more decent employment opportunities. Through these, we will achieve a respectable high growth this year, together with its positive consequences on the labor sector," Paderanga said.

The latest results of the labor force survey (LFS) showed that total employment was recorded at 36.3 million in January 2011, with a net employment generation of about 292,000 workers from January 2010.

However, employed Filipinos only represent 92.6 percent of the total labor force in January 2011, slightly lower than the 92.7 percent figure in January 2010. …