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Sunday, February 22, 2009 |
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SPECIAL REPORT: IMPACT OF FINANCIAL CRISIS ON LABOR |
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RP can weather
financial shocks
but fated to relive old policy errors |
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BY JOSEF T. YAP
THE Philippine economy slowed
down considerably in 2008.Latest data show that gross domestic
product (GDP) growth rate for 2008 fell to 4.6 percent, compared to
7.3 percent in 2007.
However, also like many other
emerging markets, the slowdown was not a result of the global
financial crisis.
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 Full
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O T H E R R E P O R T S
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Jobs that trap
people in poverty
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A NEGATIVE cycle of decreasing
consumer demand, falling production, rising joblessness and poverty
await the Philippines if the financial meltdown continues to spiral
downward this year.
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Migrant workers:
Last ones in, first ones out
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THE rapid growth of migration and remittances is
ending.
Some of the countries that absorbed many Asian migrant workers,
particularly the United States and Europe, have reported the
sharpest economic downturns in the current global financial
meltdown.
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Women will be the
first to lose jobs in global economic crisis
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WOMEN will be severely affected
by the crisis.
This is because they are mostly employed in export-oriented
industries and they are concentrated in non-regular employment, in
unskilled and semi-skilled jobs, and in low pay levels.
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Child labor, youth
unemployment expected
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WHILE not only poverty determines
decisions taken by families to put a child to work, economic
downturns have been demonstrated to play a role in determining the
supply of child labor and school attendance rates.
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How reliable are
employment forecast data?
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SOME wonder how accurate the data
are on which forecasts of “imminent” unemployment declines are
based.
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Full
Story>>
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