'Jobless growth' phenomenon haunts Philippines economically

It is a sad fact that despite the rapid economic expansion of the past two years, millions of Filipinos remain unemployed.

This is what economists refer to as "jobless growth", a phenomenon that afflicts many developing countries, debunking the myth that economic growth automatically translates to employment and poverty reduction.

Halfway into his six-year term, Philippine President Benigno Aquino recently challenged his cabinet to come up with an action plan for poverty reduction, mainly through job generation.