If the current trend is sustained, remittances from overseas Filipino workers (OFWs) this year may likely equal if not surpass the $17 billion registered last year, the Department of Labor and Employment (DoLE) said yesterday.
Labor Secretary Marianito Roque affirmed the projection even as the distinctive global preference for OFWs continues to complement the worldwide efforts to dispel the lingering effects of the global financial crisis.
Roque pointed to a report of the Bangko Sentral ng Pilipinas (BSP) that OFW remittances, underpinned by a steady global demand for OFWs reached $6.98 billion in the first five months. The five-month figure, averaging almost $1.4 billion per month, represents a growth rate of 2.8 percent compared to the level previously registered in the same period in 2008.
Earlier, a stronger-than-expected level reaching $16.4 billion in 2008, representing a growth rate of 13.7 percent compared to the figure in 2007, had been remitted by the OFWs to the country’s economy, at the same that global OFW deployment attained a new record level reaching 1,376,823 (up 27.8 percent) in 2008, compared to 1,077,623 in 2007.
Subsequently, preliminary figures furnished by the DoLE’s Philippine Overseas Employment Administration indicated that the growth trend had sustained, as the total global deployment of OFWs grew by another 27.3 percent to 283,348 in the first two months (January to February) of 2009, compared to the same period in 2008.
Roque said the global crisis’ effects had been counterweighed effectively by the strength of continuous DoLE bilateral missions, which assured continuing opportunities for OFWs, while activating interventions to dispel the crisis’ impact, and push back displacement in vulnerable overseas economies.
As a result of such bilateral efforts spurred by the country’s network of Philippine Overseas Labor Offices in strategic areas worldwide, the Labor chief said that RP had forged successful accords leading to increased opportunities for OFWs. –Mina Diaz, Daily Tribune
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
