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'Jobless growth' phenomenon haunts Philippines economically

Updated: 2014-03-03 07:44
( China Daily)

It is a sad fact that despite the rapid economic expansion of the past two years, millions of Filipinos remain unemployed.

This is what economists refer to as "jobless growth", a phenomenon that afflicts many developing countries, debunking the myth that economic growth automatically translates to employment and poverty reduction.

Halfway into his six-year term, Philippine President Benigno Aquino recently challenged his cabinet to come up with an action plan for poverty reduction, mainly through job generation.

'Jobless growth' phenomenon haunts Philippines economically

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