69,735 lost jobs last year

A total of 69,735 workers lost their jobs last year because of the economic crisis, Rep. Ernesto Herrera (LAMP, Bohol) said yesterday.

Citing data from the Bureau of Labor and Employment Statistics, Herrera said 1,788 companies retrenched 43,960 workers, while 505 other firms closed shop, rendering an additional 25,775 personnel jobless.

He said the number of workers displaced last year was 12 percent lower than the 79,305 who lost their jobs in 1998.

Just the same, the former senator, who is secretary-general of the Trade Union Congress of the Philippines, expressed concern over the layoffs.

"The figures indicate that labor continues to reel from adversities brought about by the lingering economic crisis," he said.

Owners of the companies that retrenched workers or closed shop cited high production cost, lack of capital, the peso depreciation, financial losses, and other economic difficulties for their decision to lay off personnel or go out of business.

Herrera urged the government to advance the implementation of infrastructure projects and other pump-priming programs so that jobs can be created for jobless workers.

"At this time when jobs are being lost by the thousands, government should spare no effort in creating badly-needed jobs," he said.

He also asked Congress to pass legislation that would give tax incentives to labor-intensive investments by the private sector. --