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Metro Manila (CNN Philippines, June 9) - More than 191,000 people nationwide lost their jobs over the past five months, the Department of Labor and Employment (DOLE) reported, as several employers continue to struggle to stay afloat during the COVID-19 pandemic.
Figures from DOLE released on Wednesday showed a total of 191,117 workers in 6,602 establishments were displaced from January to May this year. Some 91% were due to retrenchment while 9% were affected by permanent closure of businesses.
The DOLE said this data was sourced from notices of shutdown and workforce reduction submitted by employers to its regional offices.
Around 60% of the total displaced - or at least 114,000 people - are from Metro Manila. The second biggest tally was recorded in Central Visayas, where over 20,000 became jobless, followed by Central Luzon with 18,000.
PH GDP shrinks 4.2% in Q1 2021, marking longest recession in recent history
May 11, 2021 10:05 AM PHT
The Philippine Statistics Authority on Tuesday, May 11, announced that the country’s gross domestic product (GDP) shrank 4.2% in the first quarter of 2021, confirming experts fears that the economy will recover much slower than expected.
It is the fifth consecutive quarter that the country has registered negative GDP growth due to the pandemic, making it the longest recession since the Marcos years.
Agriculture fell 1.2%, while services and industry contracted by 4.4% and 4.7%, respectively.
The main contributors to the GDP decline were construction (-24.2%), other services like entertainment and recreation (-38%), and real estate (-13.2%).
endIndex:
Metro Manila (CNN Philippines, May 5) The pace of increase in prices of basic goods was unchanged at 4.5% in April, the same as in March, as the government reimposed the strictest lockdown restrictions over the Greater Manila area.
Data from the Philippine Statistics Authority on Wednesday showed inflation settled at 4.5% for the month, the same as that posted in March, but quicker than 2.2% a year ago.
April s inflation rate is within the 4.2% to 5.0% target range set earlier by the Bangko Sentral ng Pilipinas.
In a virtual briefing, National Statistician Dennis Mapa attributed April s flat reading to the varying movements in prices of commodity groups.
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