Meeting the Philippine Jobs Challenge

PHILIPPINE DEVELOPMENT REPORT 2013 CREATING MOREAND BETTER JOBS WE CAN WORK IT OUT THE CHALLENGE 14.6 7 MILLION UNDER EMPLOYED MILLION 10 MILLION JOBS NEEDED IN THE NEXT 4 YEARS JOB SEEKERS AS OF 2012 3 MILLION UNEMPLOYED 4.6 MILLION JOB SEEKERS (AN AVERAGE OF 1.15 MILLION ENTER THE WORKFORCE EVERY YEAR) PROFILE OF JOB SEEKERS WHO ENTER THE WORKFORCE EVERY YEAR 200,000 WILL FIND A JOB OVERSEAS WILL FIND A JOB IN THE FORMAL SECTOR 240,000 WILL NOT 60,000 FIND A JOB 650,000 WILL FIND A JOB IN THE INFORMAL SECTOR THE PROBLEM CAUSES... LACK OF COMPETITION COMPLEX REGULATIONS INSECURE PROPERTY OWNERSHIP LACK OF INVESTMENTS LEAD TO... LOW AGRICULTURAL PRODUCTIVITY WEAK MANUFACTURING OUTCOMES... INFORMALITY POVERTY OUT-MIGRATION THE WAY FORWARD WE CAN WORK IT OUT BUSINESS LABOR SECURE PROPERTY OWNERSHIP FAIR COMPETITION INVESTMENTS IN HEALTH, EDUCATION AND INFRASTRUCTURE SIMPLE REGULATIONS GOVERNMENT CIVIL SOCIETY www.worldbank.org/ph THE WORLD BANK www.facebook.com/worldbank www.twitter.com/worldbankasia