Published July 1, 2021, 7:00 AM
Employers on Wednesday, (June 30) said government must mobilize private sector participation in the massive infrastructure projects in light of limited fiscal space due to slower growth.
This formed part of the 42nd National Conference of Employers (NCE) Resolutions approved by the Employers Confederation of the Philippines (ECOP) at the closing of the virtual conference on Wednesday.
The 42NCE with the theme “Reform. Rebound, Recover” has emphasized the need for tripartite cooperation as they committed to create 1 million jobs. Employers also cited the Philippine Statistics Authority report placing the country’s unemployment rate in April 2021 at 8.7 percent which translates to about 4.14 million jobless Filipinos. Likewise, the gross domestic product (GDP) shrank 4.2 percent in the first quarter of 2021, up from a 2020 average contraction of 9.6 percent.
One million jobs targeted by year-end
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