 .. |
| .. |
08 APRIL 2004 |
| The Good News: RP exports expected to further surge in the coming months |
National Economic Development Authority Director General Romulo Neri said export growth is expected to further strengthen "due to projected higher exports to Japan and other countries in the coming months." Trade and Industry Secretary Cesar V. Purisima also said that exports would further gain momentum in the coming months. "We expect to continue seeing a positive growth trend in our exports in the coming months," he said, adding that electronics would still be "the main driver of growth." Earlier, the National Statistics Office reported that a healthy global demand for electronics that boosted its key trade sector accounted for the 7.5 percent increase in the country’s export income in the year through February. NSO figures saw February exports rise from $2.789 billion to $2.999 billion, far outstripping the 4.1 percent rise in the year through January. Electronic exports, accounting for two-thirds of the economy’s output, were 6.6 percent higher at $1.976 billion. The NSO attributed the growth to the economic recovery of Japan which has become the country’s main export market, accounting for 17.4 percent of the aggregate export income in February at $523.14 million, up by 24.9 percent from $418.76 million last year. Purisima pointed out that non-traditional electronic exports were also gaining ground. "The growing rate of the non-traditional products reflect our gains from the country’s product diversification strategy and expansion to Asian markets," he said. Purisima noted the decline in exports to the United States but said this was compensated by orders from neighboring countries. He said the improving US economy is not currently translated to an increase in Philippine exports since they are being absorbed by China, Malaysia, Singapore, and Hong Kong. Purisima stressed that the country’s commitment to bolster intra-Asian trade and the strategies to penetrate the huge China market is working for the Philippines, saying that seven of the country’s top 10 export destinations are Asian markets. |
| Zambo del Norte execs endorse GMA for May 10 polls |
Leaders of Zamboanga del Norte yesterday endorsed President Gloria Macapagal-Arroyo as their official candidate for the May 10 presidential elections. Two representatives and 14 incumbent mayors, together with other candidates for various posts in Zamboanga del Norte, pledged their support during an informal dialogue with the President Wednesday afternoon at Malacanang’s Aguinaldo Room. Led by Zamboanga del Norte First District Rep. Cecilia Jalosjos-Carreon, the provincial leaders said they are endorsing the President because she is "the best leader to bring social reforms and usher the country into prosperity." They said the President has the experience and has shown and espoused good governance. "We pledge our allegiance and support to your presidential bid as the country elects our leader on May 10, 2004. We will actively campaign for your presidential election," Rep. Jalosjos-Carreon said, as she led the reading of their statement of support. Among those who signified their support were 2nd District Rep. Roseller Barinaga, La Libertad Mayor Manuel Sulit, Sergio Osmena Mayor Augustines Magsalay, Jose Dalman (Ponot) Mayor Oliveros Dalman, Katipunan Mayor Patchito Equia, Manukan Mayor Eugene Caballero, Pres. Manuel Roxas Mayor Carlito Feras, Sindangan Mayor Winnie Albos, Godod Mayor Erlinda Te, Baliguian Mayor Teofilo Suson, Leon Postigo Mayor Ruperto Jamora, Liloy Mayor Bechu Uy, Salug Mayor Jesus Lim, Sibuco Mayor Nurunniam Edding, and Polanco Mayor Francis Olvis, a vice gubernatorial candidate. |
| Gov't job generation program on track with 1.4 million new jobs created in January - NEDA |
Director General Romulo Neri of the National Economic and Development Authority (NEDA) has said that the Philippine economy continues to pick up as shown by the creation of 1.4 million net new jobs in January this year, as against last year’s 414,000 jobs. "This indicates that economic activity continues to pick up and that the government's job generation programs and strategies are on track," Neri said in a statement. Neri said that the January 2004 Round of the Labor Force Survey released by the National Statistics Office showed that services contributed about 940,000 jobs to the economy, a big improvement from 284,000 in 2003, while industry put in 466,000 jobs, a reversal from last year’s job loss of 14,000 and also the highest increment since 1999. Neri, however, said that the new entrants of 1.7 million into the labor force, representing a 5.2 percent growth rate from its year-ago level, outpaced the high employment creation for the period of 1.4 million new jobs. Neri said he shares the sentiments of Labor Secretary Patricia Sto. Tomas who believed that the labor force figures released last week indicate increasing capacity of the economy to create jobs. "In the last three years, employment has grown annually by about 1.06 million compared to just a third of a million per year under the previous administration," said Neri. "However, the increase in labor force of 5.2 percent, which is even higher than the 2.3 percent population growth rate, outpaced the gains in employment. This is because more Filipinos are joining the labor market at a much faster pace than the record number of jobs our economy has created," he added. Neri, who also the socioeconomic secretary, added that a closer look at the figures indicates that there are signs of positive sentiments toward the labor market. "The relatively higher labor participation rate (around 67.2 percent of the total working age population compared to 65.7 percent last year) means that more people went out looking for jobs during the past year and that prospects for jobs in the near term are quite bullish," Neri said. The percentage of those people waiting for rehire or job recall increased by almost 30 percent, according to the NEDA chief. Moreover, the number of discouraged workers, meaning those who believed that no work is available, declined by 4.46 percent compared to a year ago, showing increased confidence in the economy. This increase in the so-called labor force participation, or the proportion of the labor force to the total household population that was 15 years old and above, is backed up by a decline in the number of those who previously did not join the labor force such as students. For example, the number of young workers (15-24 years old) who opted to go to school rather than enter the labor force declined by 7.72 percent to six million. Neri also stressed that the quality of employment, as shown by results of the labor force survey, also appeared to have improved in January 2004. "The number of workers who worked 40 hours or more rose by two million, an increase of 11.2 percent compared to a year ago. The number of part-time workers, meaning those who have worked less than 40 hours, dropped by five percent shedding 581,000 jobs," Neri said. The chief economic planner said the government will continue to enforce measures that will generate more jobs to match the increase in the number of labor force entrants. Neri said these measures include fiscal discipline to sustain macroeconomic stability and marketing the Philippines as an information technology and services center. He added that empowering local government units through productive public works projects, and reducing the cost of doing business, like bringing down the cost of power especially in export processing zones, can also result in stronger job creation. |
