Philippines Can Create 5.1 Million Jobs by 2040, ETHRWorldSEA

The Philippines could generate over 5.1 million additional jobs and increase real wages by nearly 13% by 2040 through targeted workforce and economic reforms, according to a new World Bank report titled “Running uphill: Growth, jobs, and the quest for productivity.” The report highlights that focusing on productivity, skills development, and private sector participation will be key to propelling the country toward sustained 6.8% annual GDP growth and achieving middle-class status.

The World Bank urges the Philippines to prioritise investments in human capital and digital infrastructure, streamline regulations to encourage competition, and create an enabling environment for private sector-led job creation, particularly in tradeable sectors such as manufacturing, tourism, agriculture, and business services.

While the country has made notable progress in shifting from self-employment to wage employment and in expanding job opportunities beyond metropolitan areas, challenges persist. Productivity growth remains low, infrastructure gaps continue to drive high transport costs, and barriers to technology adoption are limiting the quality and scale of job creation.

With AI and other disruptive technologies reshaping the global labour market, the report emphasises the urgency of equipping the Filipino workforce with digital skills and fostering innovation. Strengthening these foundations, the report argues, is critical not just for economic growth, but for building a job-rich, inclusive society.

• Published On Jul 16, 2025 at 01:30 PM IST

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