Philippine labor force situation

Source BusinessWorld

The Philippine economy is now expected to grow slower in 2022 than what was believed three months ago, still momentum-laden at 6.5 percent but diminished from the 6.9 percent forecast in July, according to the Asean plus 3 Macroeconomic Research Office (Amro)...

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Despite the unemployment rate slowing to 5.3 percent in August, the National Economic and Development Authority (Neda) believes much needs to be done to boost employment generation nationwide...

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The BTr said the new 5- and 10.5-year tranches were priced at US Treasury plus 120 and 185 basis points (bps) with a coupon of 5.17 percent and 5.609 percent, respectively. This was 35 bps tighter than the initial pricing guidance of the US Treasury plus 155 and 220 bps area, respectively...

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Nearly seven out of every 10 Filipinos were most concerned about the soaring prices of food and other basic commodities and services, a national issue for which the Marcos administration received its lowest approval rating, a Pulse Asia Sept. 17-21 survey showed...

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The Philippines can speed up its economic recovery from the COVID-19 pandemic by improving policies and initiatives on three industry clusters according to the World Bank, which also recommended several policy changes in the country’s exports sector...

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A bill has been filed in the House of Representatives extending the 20 percent discount privilege granted to senior citizens on fines imposed on them for violating traffic rules and regulations...

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Business groups on Thursday welcomed the government’s policy encouraging private sector participation through public-private partnerships...

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The Department of Energy (DOE) has ordered the preferential dispatch of all renewable energy (RE) plants in the Wholesale Electricity Spot Market (WESM), the centralized venue for trading electricity as a commodity...

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Senate Minority Leader Sen. Aquilino “Koko” Pimentel filed Senate Resolution 253 to investigate the controversial PCSO Grand Lotto 6/55 draw result on October 1 wherein 433 bettors won the P236 million jackpot prize...

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The Department of Finance (DOF) will prioritize the imposition of value-added tax on digital goods and services to broaden the country’s tax base and make lower taxes possible...

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The Philippines ranked just number 30 among the top countries in the world in which to travel, despite being the first in Asia to reopen to leisure tourists...

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The Philippines registered the largest increase in income inequality during the pandemic, the World Bank said in its latest Poverty and Shared Prosperity Report...

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French experts in energy and food security are set to come to the Philippines to help provide solutions to challenges in both fields, the French ambassador to the Philippines and Micronesia said Thursday...

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The Philippines needs to overcome “structural constraints” to take advantage of current trends in the global value chain (GVC), according to a World Bank (WB) report released on Thursday...

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The Philippine economy could expand at a milder pace in 2023 as it weathers heightened challenges here and abroad, a regional macroeconomic surveillance organization said Thursday...

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The Asian Development Bank (ADB) called for vigilance on the implementation of the South Commuter Railway Project, which is being funded by a $4.3-billion loan to the Philippine government...

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The Philippines must establish its niche in the global value chains for manufacturing, technology, and health and life sciences, the World Bank said...

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Asia Pacific is home to some of the world's most beloved travel destinations, from the natural beauty of Bali to the urban buzz of Singapore. These dreamy vacation hotspots -- teamed with the region's business power -- secured Asia Pacific the title of world's largest travel region for much of the past decade...

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The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis, but IMF Managing Director Kristalina Georgieva told AFP that institutions are better prepared to weather this storm...

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COVID-19 has dealt the "biggest setback" to global poverty reduction efforts in decades, and the World Bank warned Wednesday that the goal to eradicate extreme poverty by 2030 likely remains out-of-reach...

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The World Bank has pumped $14.8 billion into fossil fuel projects globally in the period following the landmark Paris climate accord, a report said Thursday...

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In a widely anticipated move, Saudi Arabia, Russia and other top oil producers agreed on a major cut in production on Wednesday to boost crude prices, which the United States denounced as a concession to Moscow that will further hurt the global economy...

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The United States will require further interest rate hikes in order to cool the world's largest economy and rein in high prices, Federal Reserve Governor Lisa Cook said Thursday...

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North Korea fired two ballistic missiles on Thursday as it claimed that its recent blitz of sanctions-busting tests were necessary countermeasures against joint military drills by the United States and South Korea...

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Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group this week announced a deep cut in oil production despite lobbying by President Joe Biden’s administration to keep the taps open...

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European Union leaders will lock horns on Friday over whether and how to cap gas prices, as they attempt to curb a surge in energy prices that threatens to push the 27-nation bloc into recession and disrupt the EU‘s cherished single market...

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A new COVID-19 wave appears to be brewing in Europe as cooler weather arrives, with public health experts warning that vaccine fatigue and confusion over types of available vaccines will likely limit booster uptake...

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Leaders from across Europe met Thursday in Prague for the inaugural summit of a new forum aimed at bringing the continent together in the face of Russia's aggression, with Ukraine's president urging more support for Kyiv...

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As the global economy continues to face strong headwinds and multiple shocks, the World Trade Organization said global trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023...

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Australian scientists are trying to grow plants on the Moon by 2025 in a new mission unveiled Friday that they said could help pave the way for a future colony...

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With the ongoing government and private sector efforts to modernize the agriculture value chain, President Ferdinand “Bongbong” R. Marcos, Jr. said the country is now poised to become an agriculture resource hub in Asia...

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President Ferdinand "Bongbong" Marcos Jr. claimed that he has successfully assembled a "functional" government composed of "the best and brightest" officials during his first 100 days in office...

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The leadership of the House of Representatives on Thursday gave President Ferdinand “Bongbong” R. Marcos Jr. a high mark on his first 100 days in office for ushering the country into economic recovery...

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With an admission from the Department of Budget and Management (DBM) that the proposed P10-billion funding for the government’s anticommunist task force did not include details on how the allotment would be disbursed, senators on Thursday said the money might just end up as a “pork barrel” fund...

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The Department of Transportation (DOTr) signed on Thursday four civil works contracts worth $1.87 billion for the construction of the North-South Commuter Railway (NSCR), a project that the agency’s chief said will “ring back the country’s railway system to its former glory and accelerate the country’s economic rebound.”...

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Half of Filipinos believe the country is headed in the right direction under President Ferdinand "Bongbong" Marcos Jr., according to the latest PUBLiCUS Asia Survey released on Thursday...

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Several private groups are urging the government to immediately implement the privatization of the EDSA Busway System to “finally” put an end to the daily struggle of thousands of commuters, according to the Management Association of the Philippines (MAP)...

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As the first 100 days of President Ferdinand “Bongbong” Marcos Jr. approaches, a think tank called on the Chief Executive to provide policy clarity for his infrastructure program...

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From “sipsip,” or sucking up to someone, to “higop,” or slurping to take in more, the Senate budget hearing on the lump-sum funding for the government’s social infrastructure programs has taken to coining words with unpalatable connotations...

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President Marcos told journalists he would rather be their partner than their leader as he vowed to protect press freedom on Wednesday, three days after his administration recorded its second media killing with the gunshot murder of veteran broadcaster Percival Mabasa on Oct. 3...

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To further boost investors’ confidence, the Quezon City government will hold a business investment summit today at Novotel Manila...

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President Ferdinand Marcos Jr. on Thursday vowed to strengthen the agricultural sector and continue to fight hunger across the country as he cited several government programs designed to help farmers and fishermen, which includes fuel discounts...

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Department of Budget (DBM) Undersecretary Tina Rose Canda disclosed that P19.24 billion was released to the National Task Force to End Local Communist Armed Conflict NTF-ELCAC, including P16.4 billion for special purpose funds (SPF)...

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The Department of Budget and Management (DBM) on Thursday promised to look for new funding sources for the disbursement of benefits and allowances for health workers involved in the country’s COVID-19 response...

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Despite the slow down of trade growth in 2023 projected by the World Trade Organization (WTO), the Philippines said it is banking on the resilience of its exports sector.

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The number of jobless Filipinos went up in August compared to the previous month, according to the Philippine Statistics Authority (PSA)...

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Share prices eased yesterday to snap a three-day upturn as investors took profits from the market’s recent gains...

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The World Bank said that in post-pandemic, the Philippines has more opportunities to deepen its participation in global value chains (GVCs), especially in the Department of Trade and Industry's featured business clusters...

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The stock market continued its downtrend on Thursday after fresh government data showed higher unemployment numbers in August, reviving broader worries of an economic slowdown...

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The Department of Transportation (DOTr) signed on Oct. 6 four civil works contracts totaling at $1.87 billion for the South Commuter Railway Project (SCRP), according to the Asian Development Bank (ADB) that is funding the SCRP...

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Social media managers, software engineers and graphic designers are the “fastest-growing jobs” in the Philippines from September 2020 to February 2021, according to a joint report released by Asian Development Bank (ADB) and LinkedIn in September 2022...

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Following the removal of foreign ownership cap on renewable energy (RE) investments, Senator Sherwin Gatchalian is upbeat more investors are coming in to boost the local RE industry...

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Total payouts made by insurance providers for claims related to the coronavirus disease 2019 (COVID-19) pandemic reached P1.18 billion in the second quarter, the Insurance Commission (IC) reported on Thursday...

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Unemployment rate eased to 5.3 percent in August from 8.1 percent a year ago as the number of jobs in the country went up by 3.6 million, data from the Philippine Statistics Authority showed Thursday...

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The Department of Trade and Industry expects an influx of foreign direct investments under the Marcos administration.

Trade Undersecretary Ceferino Rodolfo said that while the Philippines had lagged in terms of FDI generation in the ASEAN region, it improved its ranking in 2021...

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