The organizers of this conference assigned to me the topic   "Why the Labor Code Should be Amended."  Now I think it should read  "Why the Labor Code Should be Amended . . . Urgently."  The need to amend the Labor Code is urgent, but sense of urgency is one thing that seems to be lacking in pursuing the Labor Code revision project.  The project formally started in February 1998; meetings and conferences were held which of course cost millions, but the project up to now is still a project.  Consultation meetings are held week after week  but there is no end in sight.  Meanwhile, most of our neighbors leave our beloved country behind.   

Let us see some figures on four economic indicators:  Productivity level, wage level, unit labor cost, FDI inflow, and employment rate.    

"The main point to emphasize is that, unlike many of its neighbors, the Philippines has not experienced a sustained period of rapid growth since the 1970's.  The  l970s were its best decade, but even  very high rates were a rarity.   Moreover, since 1980 the Philippines has not had more than four consecutive years of  positive growth in per capita  GDP.  Finally, what growth  there has been has been  rather anemic, rarely above 3 % (in per capita terms).  With so many years of decline, it is easy to understand why progress has been minimal.  (Balisacan, The  Philippine Economy, 2003, p. 9).