Renewed confidence in the Philippine business climate has improved employment and reduced unemployment and underemployment figures in 2010.
In a media interview after signing the 2011 national budget in Malacanang, President Benigno S. Aquino III considered jobs creation and unemployment reduction as the biggest achievement in the first six months of his administration.
When he assumed the presidency, the President said he met local and foreign investors who have renewed their enthusiasm and optimism in the Philippines, particularly in the booming business process outsourcing (BPO) industry.
“Our slogan that the Philippines is now open again for business seems to have taken hold. Business processing outsourcing companies have already started and they have been actually doing recruitment that has made some impact on both the employment and underemployment figures,” the President said.