Irinco, Andrelev Bernadas

BSMA – 3A

One economic problem the Philippines was facing last September 2021 was high
unemployment. Possible reasons for this issue included the impact of the COVID-19
pandemic on various industries, limited job opportunities, and a growing
population.

1. Investing in Education and Skills Training: The government could

allocate more resources to improve the education system and vocational
training programs. This would help equip the workforce with the skills needed
for in-demand jobs.
2. Promoting Small and Medium Enterprises (SMEs): Supporting the
growth of SMEs can create jobs and stimulate economic activity. This could
be done through grants, low-interest loans, and business development
programs.
3. Infrastructure Development: Investing in infrastructure projects can
create both short-term and long-term employment opportunities. These
projects can include building roads, bridges, and public transportation
systems.
4. Attracting Foreign Investment: Creating a business-friendly environment
to attract foreign investment can lead to the establishment of new companies
and industries, which, in turn, can generate job opportunities.
5. Labor Market Reforms: Reviewing and updating labor laws to balance the
interests of employers and employees can encourage businesses to hire more
workers.