Unemployment Rate Eases In July

Unemployment Rate Eases In July


Specialty Pulp Manufacturing Inc. Chooses 100% Clean Energy From EDC

Agriculture-based manufacturing company SPMI is now being powered by clean, renewable, reliable energy from EDC!

PAGEONE Group CEO Included As Expert In The Social Media Trends 2021 Global Report

PAGEONE Group CEO Ron F. Jabal, APR included as one of the industry experts in the Social Media Trends 2021 Global Report by Talkwalker and Hubspot.

Transport Coop. Provides More Than 25k Free ‘Green Cards’ For Cashless Transactions

A transport cooperative operating in Las Piñas provides 25,735 passengers with the means to safely board and ride their solar electric jeepneys along the route of Alabang to Zapote.

The Importance Of Deepening Ties And Friendship On Online English Education

51Talk hosts the 2020 Sino-Philippines Educational Exchanges in celebration of the 45th anniversary of the founding of bilateral relations between the Philippines and China.

The labor market is improving, but the government needs to continue its efforts in containing the spread of the coronavirus disease 2019 (Covid-19) pandemic and supporting affected workers and firms to revive the economy, the National Economic and Development Authority (NEDA) said Thursday.

As reported by the Philippine Statistics Authority (PSA), the July round of the Labor Force Survey (LFS) recorded a 7.5-million increase in employment compared to April, with all sub-sectors experiencing employment gains except for arts, entertainment, and recreation.

All 17 regions showed employment improvements from the previous quarter.

Notably, employment in agriculture and forestry increased by 2.1 million from April, with higher agricultural output.

Within the industry sector, employment growth was seen in construction with 1.2 million additional employment as the Build Build, Build program and other construction activities resumed, as well as in manufacturing with 671,000 additional employment.

The July survey figures show a direct link between the level of quarantine restriction and labor market outcomes.

In the first half of May 2020, more than three-fourths of the economy was placed under enhanced community quarantine (ECQ).

As a result, gross domestic product (GDP) and unemployment worsened to record levels. In contrast, in the first half of July 2020, only 2.1 percent of the economy was placed under ECQ. The result is a significant reduction in the unemployment rate and the return of some 7.5 million jobs.

Likewise, the underemployment rate improved to 17.3 percent in July from 18.9 percent in April, as the increase in underemployed workers was outpaced by the overall increase in employment.

Despite the easing of quarantine restrictions throughout the country, the NEDA chief emphasized the importance of following proper social distancing protocols, abiding by local ordinances, and wearing of personal protective equipment such as face masks, as these remain important to lessen the risk of spreading the virus.

He said that in the coming months, better GDP and job numbers will hinge on how open the economy is.

This entails a better strategy to “Prevent, Detect, Isolate, Treat, and Recover (PDITR).” It also requires a safe and sufficient number of public transportation that, if needed, is supported by service contract subsidies, he said.

“Without the public transport system back sufficiently, many people cannot go back to work. To illustrate, under GCQ (general community quarantine), the share of the NCR (National Capital Region) economy that is allowed to open is 58.2 percent, but without sufficient public transport, it falls to 35.5 percent,” Chua added.

He said the recent passage of Bayanihan II will mobilize much needed resources to provide relief and assistance to households and business workers, communities and firms, by continuing to provide temporary employment programs, cash subsidies, extended grace periods, and financing for micro, small and medium enterprises (MSMEs).

These programs can be complemented by the swift passage of the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE), Financial Institutions Strategic Transfer (FIST), and Corporate Recovery and Tax Incentives for Enterprises (CREATE) bills, he said.

Chua said the 2021 budget will take the leading role in the recovery and resiliency program.

The Build, Build, Build infrastructure program is also targeted to accelerate countryside development, regional connectivity, and job generation.

From 4.2 percent of GDP in 2020, infrastructure spending will grow to 5.4 percent of GDP in 2021, creating in the process some 1.1 million full time equivalent jobs, and with a multiplier of around 2, will help the country achieve the 6.5 to 7.5 percent GDP growth target next year.

“Through our collective efforts, I believe that we will be able to recover as one, come out stronger, more resilient, and become better as a country and as individuals,” Chua said. (PNA)

MMFF Partners With Streaming Services, Premieres Online

This year, MMFF can be seen in the comfort of your home as it goes online!

Palace Assures COVID-19 Vaccine’s Affordability

ROQUE: “Hindi naman po ganoon kamahal ang estimate natin sa bakuna. Ang estimate po ni Secretary Dominguez, USD10 per dose at kinakailangan dalawang dosage so USD20 per person."

Pasig River Ferry Service Resumes Operation

The Pasig River Ferry Service resumes operations again!

UK: COVID-19 Vaccines To Be Available In Early 2021

More than one COVID-19 vaccine are expected to be distributed by 2021.

BSWM Seeks Fund To Boost Rainwater Harvesting For Farmers

The Bureau of Soils and Water Management of the Department of Agriculture is awaiting the release of fresh funds for more rainwater harvesting-related projects nationwide this year.

DSWD Completes Assessment Of 14.4M Poor Families For Listahanan 3

The Department of Social Welfare and Development says they have completed assessing the 14.4 million poor families included in the initial list of the third-round of assessment of the “Listahanan 3” or the National Household Targeting System for Poverty Reduction.

Bataan Holds Early ‘Undas’ Due To Pandemic

Instead of November 1, Bataan residents are allowed to visit cemeteries from October 15 to 28.

‘Hatid-Tulong’ Brings Home 257K OFWs

More than a quarter of a million OFWs, stranded in Metro Manila due to the pandemic, have been aided by the government’s “Hatid Tulong” program in returning to their home provinces.

GMA Network Presents ‘Alden’s Reality,’ The First Ever Virtual Reality Concert In The PH

Shot in 360-degree, concertgoers not only have access to front-row view, but they are also in for an immersive experience from the comforts of their home!

Ricky Lee Reveals Storytelling Secrets And Journey In iWant TFC’s ‘Trip To Quiapo’

Calling aspiring filmmakers! Enhance your storytelling skills with the "Trip To Quiapo" docuseries, exclusively on iWant.