EDITORIAL- Preparing for unemployment

As national candidates kick off their quests, the government must not lose sight of the overriding concerns of Filipinos, as gleaned in the most recent survey in December: consumer prices, salaries and jobs. Another survey, taken by the Social Weather Stations Inc. at around the same time, showed that about 9.1 million Filipinos – nearly a tenth of the population – are jobless.

The figure is lower by 2.2 percent from the 10 million in September 2015. The year’s average unemployment rate of 21.9 percent was also the lowest since 2004’s 15.8 percent. But analysts have warned that unemployment could soar if oil prices remain depressed.

Motorists are rejoicing over falling fuel prices, which has helped dampen inflation and led to a recent cut in jeepney fares. But for the Philippines, one of the world’s largest labor exporters, the downside of cheap fuel is the potential loss of OFW jobs.

About 10 million Filipinos are working overseas, with the bulk employed in the oil-exporting states of the Middle East and North Africa. Construction has slowed in the region and the first to go, when it comes to downsizing, are migrant workers. Filipinos may have some edge because of better skills, but they will be competing in a tight labor market where locals will have priority.

In times of conflict, OFWs laid off in the problem zone seek jobs in neighboring states. During economic slowdowns, OFWs have also shown resiliency by accepting a salary cut or getting another job even if it pays lower. Such approaches may not work this time because the plunge in crude prices has hit the oil exporters equally, affecting their development plans.

The oil price woes combined with the economic slowdown in China have been felt around the world, threatening the jobs of Filipino seafarers and OFWs in other regions. The government must not let the election campaign distract it from confronting this problem, and from doing more to create decent jobs for the OFWs in their own country.