GMA regime: Joblessness, Family Incomes Worst In Last 7 Years

Heads of state labor leaders and academics will hear Gloria Arroyo’s voodoo economics at Davos World Economic Forum Annual Meeting. The OFW $ 13 B annual remittances have nothing to do with GMA economic plan. About 1 million workers leave the country yearly for jobs abroad.

President Gloria Arroyo’s seven years in office has brought record levels of joblessness as well as falling family incomes, according to independent think-tank IBON Foundation. According to IBON research head Sonny Africa, historical levels of joblessness were registered under the Arroyo administration since 2001. In 2007, there were 4.1 million jobless Filipinos and an annual average unemployment rate of 10.8 percent. Although 2007 figures were a slight improvement from 2006, the average annual unemployment rate of 11.3% over the 2001-2007 period remains the worst such period recorded in the country’s history, Africa said.
IBON Media