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Loss of one million jobs reveals instability of Philippine economy * Latest Posts Bulatlat Perspective Commentary 

Loss of one million jobs reveals instability of Philippine economy

By BENJIE OLIVEROS Bulatlat.com A Gmanews.tv report revealed that a million jobs were lost from 2011-2012. The report cited data from the Department of Labor and Employment showing that the number of employed Filipinos went down to 37.668 million in October 2012 from 38.55 million in October 2011. It also cited data from the National Statistics Office showing that the number of unemployed Filipinos went up to 2.7 million from 2.6 million during the same period. Well, the difference may be attributed to the government’s definition of unemployment, which refers…

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Elite governance, elite economics: When vaunted growth clashes with reality * Latest Posts Economy Economy & Business Other Stories Politics & Governance Special Reports 

Elite governance, elite economics: When vaunted growth clashes with reality

By ARNOLD PADILLA Bulatlat.com MANILA — In 2012, the dominant theme peddled by the Aquino administration was “good governance is good economics”. Malacañang’s hoax is that the “daang matuwid” (righteous path) has created a favorable environment for inclusive economic growth. From being the sick man of Asia, the Philippines now brims with vitality. Or so, President Benigno Aquino III declared in last July’s State of the Nation Address (Sona). Going by the mainstream media reports, Aquino’s boasts seem hard to doubt. For one, the national accounts do show rosy numbers….

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Research Group IBON rated SONA 2010 promises vs performance * Latest Posts Economy & Business Other Stories 

Research Group IBON rated SONA 2010 promises vs performance

By bulatlat.com The public deserves better than a selective presentation of facts and figures in the president’s first year, and is hoping to be given a whole picture of the state of the nation. This is the challenge for President Benigno “Noynoy” Aquino issued today by non-government research group IBON. “Pres. Benigno Aquino III’s first state of the nation address (SONA) in July 2010 was short on meaningful promises on the economy,” Ibon recalled, saying that the shortage “reflected the lack of a meaningful vision for developing the country and…

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Benjie Oliveros | One Economy, Different Views * Latest Posts Bulatlat Perspective 

Benjie Oliveros | One Economy, Different Views

By BENJIE OLIVEROS Analysis Bulatlat.com The Arroyo government is once again gloating over the 7.3 percent GDP (Gross Domestic Product) growth for the 1st quarter of 2010. The National Statistical Coordination Board called it a “glorious ending” for the Arroyo administration. The last time it registered a 7 percent GDP growth was in 2007: 7.5 percent in the second quarter and 7.4 percent in the fourth quarter. The Arroyo administration considers economic growth under its watch as its crowning glory. Official statistics show an average of 4.5 percent GDP growth…

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Despite P330-B Stimulus Package, Job Losses to Hit Around 1.2 M in 2009 * Latest Posts Other Stories 

Despite P330-B Stimulus Package, Job Losses to Hit Around 1.2 M in 2009

Experts have described the recession as a “supercrisis”, which could be long and deep. Its impact on poor and underdeveloped economies like the Philippines is just starting to unfold. Obviously, emergency employment through a stimulus package as well as labor flexibilization and export will not do the trick. A total overhaul of the economy’s orientation must now be started – shifting from an externally driven growth and job creation to a one driven by internal sources of economic expansion and employment. BY ARNOLD PADILLA Contributor Bulatlat With the entry of…

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Stimulus Package Mere Recycling, Misleading – Solons * Latest Posts Top Stories 

Stimulus Package Mere Recycling, Misleading – Solons

Members of the House Committee on Economic Affairs grilled National Economic Development Agency (NEDA) Director General Ralph Recto over the P330-billion economic stimulus package at a hearing, February 4. The stimulus package, which is much touted by the Arroyo administration, turned out to be a mere repackaging of old programs. Bayan Muna Rep. Teddy Casiño called it a “simulation package”.

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Too Little, Too Inconsequential, Too Late * Latest Posts Bulatlat Perspective 

Too Little, Too Inconsequential, Too Late

The efforts of the Arroyo government to address the impact of the combination of the world economic crisis and the crisis of Philippine society are too little, too inconsequential, and too late. The extent of the crisis requires nothing less than a radical restructuring of the economy of the country; and only the Filipino people, who are suffering the brunt of the crisis, would have the political will to do so. BY BENJIE OLIVEROS ANALYSIS The impact of the world economic crisis on the weak and backward Philippine economy is…

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10.7 M Jobless Filipinos in 2008: Record Joblessness Among Arroyo Government’s Greatest Failures * Latest Posts Labor & Employment 

10.7 M Jobless Filipinos in 2008: Record Joblessness Among Arroyo Government’s Greatest Failures

The Philippines’ record-high unemployment is considered among the greatest failures of the Arroyo administration and is seen to even worsen this year. BY IBON FOUNDATION Posted by Bulatlat The Philippines’ record-high unemployment is considered among the greatest failures of the Arroyo administration and is seen to even worsen this year. Estimates made by IBON put the number of unemployed and underemployed Filipinos at 10.7 million in 2008. This was computed using the original National Statistics Office (NSO) definition of employment and assuming a labor force participation rate of 66.1 percent…

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Philippines Effectively Enters Recession * Latest Posts Other Stories 

Philippines Effectively Enters Recession

Even as the administration continues to deny that the global economic turmoil will push the country into a deeper crisis, the Philippines has effectively started to enter a recession. BY IBON FOUNDATION Posted by Bulatlat Even as the administration continues to deny that the global economic turmoil will push the country into a deeper crisis, the Philippines has effectively started to enter a recession. Speaking at the IBON Birdtalk yearend briefing, IBON research head Sonny Africa said that the economic growth in 2008 has already fallen by nearly three percentage…

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Congress urges Malacañang to be pro-active amid global slowdown * Latest Posts Breaking News 

Congress urges Malacañang to be pro-active amid global slowdown

Amid the global slowdown, the House Committee on Economic Affairs is urging Malacañang to be more pro-active in protecting the domestic economy and in re-orienting the economy towards greater self-reliance. The committee report on House Resolution No. 834 calls on Arroyo government’s economic managers to prepare a roadmap and corresponding courses of action and to re-orient the economy towards greater self-reliance. The report and proposed House resolution was the outcome of the Committee’s deliberations on House Resolution No. 428 authored by Bayan Muna Representatives Teddy Casiño and Satur Ocampo, Anakpawis…

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