The government needs to generate at least 12 million jobs before President Rodrigo Duterte ends his six-year term in office in 2022 to resolve the unemployment rate, the National Economic and Planning Authority said over the weekend.
Economic Planning Secretary and Neda director-general Ernesto Pernia said the country must generate at least 2 million jobs annually “to mop up the unemployed and those who are incoming into the labor force.”
Pernia said addressing the unemployment and underemployment issues would eventually lead to the reduction in poverty incidence.
The Duterte administration aims to cut the poverty incidence rate by 1.5 percentage points every year to 17 percent by 2022.
Latest data from the Philippine Statistics Authority showed the unemployment rate dipped to 5.4 percent in July 2016.