Editorial
The jobs we need
HE numbers are sobering.
In the face of the global economic slowdown, companies are cutting back production or closing shop altogether. The announcement by Intel last week that it would lay off 1,800 workers and shut down its Cavite manufacturing plant is just the tip of the iceberg.
This week, the Trade Union Congress of the Philippines reported that one of the largest Japanese companies operating in Bataan and Cebu, Mitsuimi Philippines, has laid off 4,400 workers and asked the rest of its employees to retire early as it scales down production amid plunging export sales of personal computers and peripheral equipment.
The Labor Department estimates the country could lose 200,000 jobs in the first six months, including 60,000 in the electronics industry.
Now we are told that the business process outsourcing industry, one of the bright spots amid the economic gloom, is not exempt after all. Among the biggest customers of call centers, multinational banks who have been hit hard by the financial meltdown are capping new hiring as the recession damages their revenue and finances. As a result of such cutbacks, industry officials say they may miss the mark on their original forecast of 1 million new outsourcing jobs by 2010.
The government?s response to these dire circumstances has been to focus on pump-priming the economy, with a P10-billion stimulus package that will go to infrastructure projects and the creation of new jobs.
We have no argument with this approach, as long as the infrastructure projects actually prepare us for economic recovery that must follow, and as long as the jobs are truly productive ones, not the kind that involves street sweepers wearing T-shirts proclaiming their love for President Arroyo.
In this same light, we would caution against throwing money at the ailing pre-need industry, simply on the basis that some of their customers may be left holding the bag. Such a bailout would have no productive effect whatsoever, and now is certainly not the time to reward mismanagement or bad judgment. Let?s focus instead on getting the jobs we need.
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