Daily Star logoBusiness

Bacolod City, Philippines Thursday, August 20, 2020
Front Page
Star Business
Star Life
People & Events
Govít hit for downplaying
massive unemployment rate


Local labor leader Wennie Sancho slammed the national government for downplaying the massive unemployment rate in the country.

Sancho, secretary-general of the General Alliance of Workers Associations, said that based on the Social Weather Stations survey, the unemployment rate in the country escalated to 27.3 million in July this year from 7.9 million in December 2019.

“Our joblessness rate is at an all-time high of about 45.5 percent. The damage control strategy of the government is to water down the issue. But it won't work because massive unemployment poses a threat to our economy. It is a clear and present danger,” he stressed.

“Unless the government could make some safety nets as a form of economic intervention, we are in deep trouble. The social amelioration program is merely a palliative measure,” he added.

Jobs for the jobless and food for the hungry should be the main program of the government, but it is being paralyzed by the rampage of the coronavirus pandemic, Sancho stressed.

When unemployment is high, the workers’ purchasing power is greatly reduced and they have no more access to their needed goods and services, he pointed out.

He said the end result is economic displacement, and businesses could not scale up their productivity and they will be forced to closed shop and retrench their workers.

“Under this deplorable economic condition, workers have no choice but to accept starvation wages or a mere pittance just to survive,” he lamented.*


back to top

ButtonPVO earns P.5M from 2 prov’l farms
ButtonGov’t hit for downplaying massive unemployment rate
ButtonTips for more inclusive workplace

ButtonPeso hits near 4-year high, stocks dip