MANILA (Mabuhay) – Business process outsourcing (BPO) firms are expected to generate roughly 124,000 full-time jobs on average over the next three years, Pasig City Rep. Roman Romulo, an industry supporter, said in a statement Wednesday.
“Based on sectoral projections… BPO firms will be able to add an average of 124,000 well-paying jobs annually from 2014 to 2016, or a total of 372,000 new posts over the next three years,” Romulo said.
“This will help address unemployment, especially among college-educated Filipinos,” he added.
Joblessness and underemployment remain a major issue in the Philippines, and economists are wary of the “jobless growth” the government promoted in 2013. Unless the government backs up this economic expansion with more jobs, they said this growth will be short-term.
President Benigno Aquino III defended his administration, saying the budget approved for 2014 will encourage “inclusive growth” and job creation in the manufacturing, tourism, infrastructure, and agriculture sectors.
“We are counting on the bigger BPO players to continue to drive the formation of new jobs,” Romulo said.
Thirty-six major BPO companies generated combined revenues of P192 billion in 2012. If they can draw in more business, he said, these firms can hire more staff and achieve their job generation targets.
The IT and Business Processing Association of the Philippines sees the industry making up to $27 billion in annual revenues and directly employing some 1.3 million Filipinos by 2016. (MNS)