by Ben O. de Vera, Philippine Daily Inquirer, 4 Dec 2020 MANILA, Philippines — With the COVID-19 pandemic and the stringent lockdown shuttering thousands of businesses, about 4.5 million Filipinos became jobless this year and the unemployment rate jumped to 10.4 percent — the highest in 15 years, the government reported on Thursday.
by Ben O. de Vera, Philippine Daily Inquirer, 4 Dec 2020 MANILA, Philippines — The COVID-19 pandemic has not only ended decades of steady growth for the Philippine economy, but also plunged the country into its most serious recession since after World War II and even worse than the 1984 economic crisis that led to…
by Cathrine Gonzales, Philippine Daily Inquirer, 4 Dec 2020 MANILA, Philippines — The country’s headline inflation jumped to 3.3 percent in November, higher than the previous 2.5 percent in October, the Philippine Statistics Authority (PSA) said Friday.
by Czeriza Valencia (The Philippine Star), 4 Dec 2020 MANILA, Philippines — The Philippines is expected to remain under a prolonged quarantine next year, with restrictions seen to be removed only in 2022, according to the National Economic and Development Authority (NEDA).
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By William B. Depasupil, Manila Times, 3 Dec 2020 ALMOST 50,000 or 4 percent of about 1.4 million Filipinos working as domestic helpers or “kasambahay” are minors, according to the Department of Labor and Employment (DoLE).
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by Daxim L. Lucas, Philippine Daily Inquirer, 3 Dec 2020 MANILA, Philippines—The central bank called on the national government to accelerate its own spending program to boost growth amid emerging data that the private sector remains gun shy on taking out loans, which are now at their cheapest in history, which would generate economic activity.
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by By Jenina P. Ibañez, Reporter and Denise A. Valdez, Senior Reporter, BusinessWorld, 2 Dec 2020 THE recently signed 15-country mega trade deal could worsen a post-pandemic Philippine economy, some analysts said, as a potential surge in imports could upset the balance of trade.
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By: Miguel R. Camus, Philippine Daily Inquirer, 1 Dec 2020 MANILA, Philippines—San Miguel Corp. (SMC), one of the country’s largest expressway operators, said the transition to full cashless toll collections on Dec. 1 this year was “smooth and peaceful”.
By Ferdinand Patinio, 1 Dec 2020 MANILA – After getting fresh funding to help displaced and stranded overseas Filipino workers (OFWs), the Department of Labor and Employment (DOLE) said documented and undocumented Filipino workers abroad or in the country would benefit from the Abot Kamay ang Pagtulong (AKAP) program under the Bayanihan to Recover as…
(Philstar.com), 1 Dec 2020 MANILA, Philippines — With a vote of 204 in favor, seven against and three abstentions, the House of Representatives passed Tuesday a bill banning labor-only contracting in the private sector, a move which some lawmakers said would not completely ban the “abusive” practice of contractualization in the country. House Bill No.…
by Ben O. de Vera, Philippine Daily Inquirer, 1 Dec 2020 MANILA, Philippines — COVID-19’s impact on economies will spill over to next year, such that the pandemic-induced economic losses in the Philippines would exceed 10 percent of gross domestic product (GDP) both in 2020 and 2021 no thanks to slow recovery in consumer confidence,…
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