28 Strategic Framework for Accelerating Human Capital Development, PDP 2017-2022

On the other hand, to address the challenges for the social progress pillar on Foundations of Well-Being, the results of this study especially on education and the need for lifelong learning environments and the need to reduce inequalities and generate more productive and quality employment, shall inform and serve as basis for contributing to the achievement of Chapter 10 of the new PDP, on “Accelerating Human Capital Development” (Figure III.28). For instance, according to the ILO Report in 2016, “economic growth alone is insufficient for poverty reduction and inclusive labor market outcomes.” How growth is achieved through decent and productive employment is critical, per the ILO Philippine Office. In this regard, more concerted policy action that promotes rebalancing the economy towards greater investment in support of the national objective of massive quality employment generation could play an important role in accelerating inclusive growth, ILO exhorts. Specifically, improving employability and improving productivity towards increasing income-earning abilities are goals where this assessment’s results might be relevant.

Figure III.28. Strategic Framework for Accelerating Human Capital Development, PDP 2017-2022 (Ch. 10)

At the same time, to address the inadequacies for the social progress pillar on Basic Human Needs, the results of this study will hopefully feed into Chapter 11 of the new PDP on “Reducing Vulnerability of Individuals and Families” (Figure III.29), especially with regard to the provision of safety nets and social protection insurances.