Recto sees 500,000 new jobs this year

The government could only create 500,000 new job opportunities this year, not enough to meet the demand for domestic employment amid a sluggish world economy, an economic manager of President Arroyo said yesterday.

In a Malacañang press conference, Socio Economic Planning Secretary Ralph Recto said that around 900,000 new graduates and non-graduates will be looking for work this year while another 800,000 workers may be “vulnerable” to the global economic crisis this year.

Recto said it would be “tough” to create one million jobs as envisioned in the government’s Medium Term Philippine Development Plan (MTPDP) to cover the looming unemployment.

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