P6-billion insurance fund for unemployed eyed

STO. TOMAS, Pangasinan, Philippines – President Arroyo has ordered economic managers to study the proposal of Socioeconomic Planning Secretary Ralph Recto for the government to set up a fund to extend temporary unemployment insurance to workers who lose their jobs, with money to be provided by the Social Security System (SSS) and the national government.

Recto proposed during the Cabinet meeting that P5,000 or P10,000 be given monthly for six months to SSS members who lose their jobs due to the economic crisis.

He said the unemployment insurance would not be expensive because the administration has allocated P10 billion for the conditional cash transfer to the poor.

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