Unemployment worsened even with more foreign investment

March 23, 2023

Proponents of charter change insist that more FDI from changing the Constitution’s economic provisions will create job opportunities and decrease unemployment. Has unemployment decreased as FDI increased?

Annual FDI inflows increased from an average of US$1.6 billion annually in the decade 2000-2009 to US$5.9 billion in the decade 2010-2019. Yet the number of unemployed Filipinos stayed high at an average of 4.29 million unemployed Filipinos within the same period, before the pandemic lockdowns, with a peak of 4.71 million jobless in 2019. This uses the same unemployment methodology for consistency.

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IBON Foundation

IBON Foundation is a non-stock, non-profit development organization. We have been serving the Filipino people through research and education since 1978. IBON seeks to promote an understanding of socioeconomics that serves the interests and aspirations of the Filipino people. We study the most urgent social, economic, and political issues confronting Philippine society and the world.

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