Labor and employment in the country have been transformed by the indelible impact of the pandemic. In April 2020, the country experienced a slump in employment with the unemployment rate reaching as high as 17.7 percent. The underemployment rate was high at 18.9 percent in April 2020 . Furthermore, during the enhanced community quarantine implementation, 2/3 of businesses were pushed to stop their operations. Despite these losses, Filipinos were quick and steadfast to adjust.
Many businesses, including those of small entrepreneurs, began to use digital technologies to make their businesses thrive. These new age entrepreneurs include Filipinos who had recently started a business after losing their jobs to the pandemic. In a UNDP Rapid Response Survey of MSMEs, digitalization was the most popular demand strategy for both female and male respondents .
The rapid growth of the platform sector could come with substantial “gender dividends,” given the greater rate of women’s participation, lower pay gaps, and increased flexibility that can allow women to finesse their care and economic responsibilities.
Source: Financial Digest (financialdigest.net)
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