MANILA – President Benigno Aquino III said yesterday that the decline in the unemployment rate was brought about by the generation of three million jobs during the past two years.
Aquino, in his 3rd State of the Nation Address at the House of Representatives yesterday said the government will even create one million more jobs every year thereafter.
Aquino cited the 638,000 jobs created by the booming business process outsourcing sector which brought in $11 billion to the economy in 2011.
He said that by 2016, the BPO industry was expected to bring in $25 billion and employ 1.3 million Filipinos.
In April 2012, unemployment rate was at 6.9 percent, down by 0.3 percent from the 7.2 percent in the same period last year.*PNA