Answer:
“In the Philippines… unemployment is a ‘time bomb’. Between 2005 and 2030, the labor force will increase from about 32 million to 52 million… will the economy be able to provide jobs? Skills mismatch and the lack of human capital are also the most commonly cited reasons of unemployment . In reality, the systematic failure of the economy to create enough jobs is the main cause of massive unemployment.”
“Employment is a basic right and full employment should be the primary objective of economic policy… Nobody willing and ready to work for just a wageshould be without a job. Society must be able to provide jobs for all…And they should be able to provide jobs for the workers they have and not for the workers they wish they had,” Dr. Felipe added, “A full employment economy offers a great number of advantages… reduced need for a societal safety net, lower social costs, and a higher political stability… immediate policy priorities to achieve full employment should be population management and job guarantee programs. Industrialization policies are also crucial.Eductaion does matter for long-term growth, but it is not a key constraint now… Individuals cannot be left out and stigmatized for being ‘uneducated’.”
