MANILA, Philippines — The reimposition of strict quarantine measures wiped out the minimal gains in the country’s labor market as more Filipinos lost their jobs again in April. The labor situation turned grim anew as seen in the latest report of the Philippine Statistics Authority (PSA), which showed that the unemployment rate rose to 8.7 […]
Read MoreMANILA, Philippines — Manufacturing activity recovered from a slump, posting a big hike in April as a majority of industry groups recorded gains, the Philippine Statistics Authority (PSA) said. Factory output, as measured by the Volume of Production Index (VoPI), surged 162 percent in April, coming from a 73.3 percent contraction in March and 65 […]
Read MoreMANILA, Philippines — The World Bank slashed anew its growth forecast for the Philippines, as emerging signs of recovery seen in previous months dissipate in the face of fresh coronavirus lockdowns. From its old forecast of 5.5% in March, the Washington-based lender now projects the economy to grow 4.7% this year based on the revised […]
Read MoreMANILA, Philippines — Dutch financial giant ING expects inflation to decelerate starting this month and return to within the two to four percent target set by the Bangko Sentral ng Pilipinas (BSP) as early as next month as supply conditions ease. ING Bank Manila senior economist Nicholas Mapa said inflation may ease in the coming […]
Read MoreMANILA, Philippines (Update 2, 11:37 a.m.) — A brief return to strict lockdowns to arrest an unexpected Covid-19 flare-up erased some gains in restoring jobs destroyed by the pandemic, as more Filipinos were unemployed in April. There were 4.14 million Filipinos who were either jobless or out of business in April, up from 3.44 million people in […]
Read MoreMANILA, Philippines — The government should build up on better labor market programs as the pandemic would have longer scarring effects on the country’s labor force even in a post-COVID era, the Asian Development Bank (ADB) said. In its latest blog, the Manila-based multilateral lender said an improved labor market is needed to aid workers […]
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