DOF chief Go: BPO, electronics, renewable energy key to boosting PH jobs

Finance Secretary Frederick Go has identified business process outsourcing (BPO), semiconductor and electronics manufacturing, and renewable energy sectors as rapidly growing fields that could boost the country’s job generation.

According to a statement on Sunday, Go made the remarks during the IMF-World Bank Spring Meetings 2026 on Thursday.

He said the BPO industry is opening more opportunities for Filipino workers as it explores artificial intelligence, data analytics, and IT-enabled services.

“I think we all should follow the Philippines’ example in moving towards these more high-value services in East Asia Pacific,” Felipe Jaramillo, Vice President for Asia and Pacific of the World Bank, said, supporting Go’s statement.

The Finance secretary also pointed out the expanding semiconductor and electronics manufacturing sector, with firms like Samsung boosting investments and jobs, as well as the growing renewable energy sector driven by wind, solar, and geothermal projects.

“Our weakness is our strength. We get hit by a lot of typhoons, so we need to harness the wind power. We get a lot of sun, we need to harness solar power. And third, we’re also a volcanic country, we need to find ways to keep harnessing the geothermal energy,” Go said.

To sustain job creation, Go said the government is promoting a stable, predictable business environment through reforms like the CREATE MORE Act and the Public-Private Partnership Code, which offer long-term incentives and boost investor confidence.

He added that the government is also investing in education and skills training to ensure that Filipinos are equipped to meet the demands of emerging industries.

“So, we’re trying to combine both a macroeconomic approach and very industry-specific programs to ensure that growth translates into real job opportunities for Filipinos,” Go said.

In early April, the Philippine Statistics Authority reported there were fewer jobless Filipinos in February 2026 than in January but more were unemployed compared to a year ago, as there were more people looking for jobs than those absorbed into employment.

There were 2.66 million unemployed Filipinos in February 2026, down from 2.96 million in January 2026 but higher than the 1.94 million a year ago, results of the PSA’s labor force survey (LFS) showed.

Out of the 994,000 Filipinos added to the labor force in February, only 271,000 were absorbed into the labor market, while 724,000 remained jobless.

This brought the February unemployment rate to 5.1%, lower than the 5.8% in the previous month but higher than the 3.8% in February 2025. —Mariel Celine Serquiña/RF, GMA News