The Aquino administration yet again takes fire from a militant youth group due to a record rate of underemployment, and the unchanged percent of unemployed.
The rate of underemployment rose from 19% in July 2011 to 22% this July. On the other hand, the rate of unemployment was virtually unchanged from 7.1% last year to 7% this year. This means that about 8.5 million Filipinos are underemployed and 2.8 million are unemployed.
“This only shows that the economy under Noynoy is ampaw: it’s like a siopao or buchi without any filling inside. Most of these jobs created under this Administration are seasonal, part-time, or low-earning” said Vencer Crisostomo, national chairperson of Anakbayan.
He said “There can never be adequate decent jobs as long as the government’s economic development thrust is to attract foreign investments instead of creating self-reliant industries and an agricultural sector”.
The youth leader pointed out that by reliance on foreign investments mean policies such as contractualization of workers and wage freezes, which in turn contribute to lessening of wages and other benefits of workers, as well as a removal of their security of tenure.
By relying on foreign sources, such as the business process outsourcing (BPO) industry, the employment of millions of workers is placed on ‘shaky ground’, subject to the unstable economic situation of countries where the foreign companies are based.
“What we need is the stimulation of local businesses by tightening laws on foreign investments and lessening the competition from these giant multi-national and transnational corporations. The Aquino regime should stop heeding every beck and call from the US Embassy and start by reclaiming privatized GOCC’s, thereby creating more jobs. But then again, what do we expect from a US-installed puppet?” Crisostomo said.
In addition, the Aquino regime’s refusal to rein in the prices of basic commodities and services such as petroleum products and electricity also erodes the already-insufficient wages of many workers.