SURIGAO del Norte Rep. Robert Ace Barbers today said the drop in the country’s unemployment rate means that the Marcos administration’s economic policies are working.
“The President and his economic team, and their allies in Congress, principally the House of Representatives, are on the right track. The newest data indicated that the economy has created more than 200,000 jobs,” he said.
Barbers was commenting on the report of the Philippine Statistics Authority that the unemployment rate fell to 3.6 percent in November from 4.2 percent in October, or to 1.83 million Filipinos from 2.09 million.
The Mindanao lawmaker said investments are the principal driver for creating new job and income opportunities for the people.
He said the drop in unemployment gives more impetus to the House initiative to relax the “restrictive” economic provisions of the Constitution “so the country can attract more foreign investments.”
“More foreign investments will mean more jobs, more economic activities and more income for our people,” he said.
He added that the Charter’s economic provisions restrict foreign capital inflow “because they contain a cap on foreign ownership and investment that cannot be lifted or amended by any law.”
“That’s why constitutional amendments focused on the economic provisions are urgently needed,” Barbers stressed.
metrosundaily
