The May 2021 Labor Force Survey of the Philippine Statistics Authority reports that there were 44.72 million employed workers in our economy, as against 42.65 million in January last year. So does this mean that Filipinos are now back on their feet again?
This should come as no surprise, knowing that total incomes in the economy, measured by gross domestic product and gross national income , fell by 4.2 and 10.9 percent, respectively, as reported also by PSA last May. The first measures total incomes resulting from production in the domestic economy, whether by Filipinos or foreigners ; the latter measures incomes from production by Filipinos wherever they are in the world .
Two, much of our skilled workforce have been forced into low-skilled and unskilled work. Topping the job losers were managers , clerical support workers and skilled workers in crafts and trades ; technicians and associate professionals ; and plant and machine operators and assemblers . They turned to elementary occupations like unskilled farm and non-farm labor , service and sales , and skilled farm work .
Four, large numbers of full-time workers have been forced into part-time work. There are now 3.2 million more part-timers than before the pandemic, and 1.4 million less full-timers. The bulk of new jobs that have emerged are part-time, and most likely inadequate to meet the needs of workers and their families.
Source: Financial Digest (financialdigest.net)
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