Philippine Unemployment at 7.7%
If anyone out there, a Filipino business man or expat that’s been learning the ropes has some insights into the unemployment numbers, I’d love it if you’d share them in a comment. The manila times is reporting an unemployment rate of 7.7%. That seems on the low side to me, way on the low side. The USA uses methods that some critics say does not show the real unemployment rate. Such as leaving out the millions of people that have given up on finding a job as they are not actively seeking employment. I suppose it would be hard to differentiate those who will not work no matter what the conditions from those that would work but have given up. I feel certain there is a large number of those both in the USA and the Philippines. The unemployment rate here seems far, far in excess of 7.7% from my casual observations.
The Philippine people do not strike me as lazy either. I’ve seen some very hard working Filipino. All the working Filipino I’ve come across work extremely hard and try very hard to please. This seems especially true in the tourist industry.
Philippine Economic Resiliency Plan
Seems the numbers for this plan are not as impressive as I first thought. Though I can only rely on the analysis of others. The Fair Trade Alliance (FTA) is reporting that of the P330 billion ($6.8 billion) in the plan only P30 billion is new spending. The rest is spending already in the budget each year. I recall reading early on that the Philippine President added 30 billion to the Philippine Economic Resiliency Plan (PERP) the first time I heard of the plan. That gives this number new spending number, some credibility. The number is also being used in a story in the Manila Times.
I’m not trying to imply that the government is doing anything sneaky here but rather providing clarification on the numbers. I’m learning about the Philippines economy and way of life and trying to share what I learn along the way.
The Philippines is a complicated country. Stereo types generally don’t work here because there are so many subcultures within the culture. I continue to be happy that I am here, it has been one of the best choices in life that I have ever made. It was in part luck, but I welcome some good luck after all the bad luck.
Filed under: Living In The Philippines
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