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According to World Bank Country Director Motoo Konishi, the Philippines had become a "rising tiger" in East Asia. However, at the same time, during the 2010–2011 fiscal year, the increase in the wealth of the richest families in the Philippines, amounting to 47.39%, comprised 76.5% of the GDP increase for that year. [4]
The unemployment benefit of the SSS also covers the kasambahay (housemaids) as well as Overseas Filipino Workers (OFWs; Filipino migrant workers).Claimants should have made 36 monthly contributions to the SSS, 12 months of which should be in the 18-month period immediately preceding the month of involuntary separation.
Share of population in extreme poverty (1981–2019) In 2023, official government statistics reported that the Philippines had a poverty rate of 15.5%, [1] [2] (or roughly 17.54 million Filipinos), significantly lower than the 49.2 percent recorded in 1985 through years of government poverty reduction efforts. [3]
On the other hand, there is the job and skill mismatch. Even with the high unemployment rate, there are jobs that are not filled because there are no applicants who have the right qualifications. [21] From this job mismatch problem also arises the educated unemployed. In 2010, the unemployment rate among the college educated is about 11%.
Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). [3] Unemployment can have many sources, such as the following: the status of the economy, which can be influenced by a recession
To promote the sustainable human development concept, the HDN spearheads the following projects and activities: (1) preparation of a Philippine Human Development Report on a regular basis; (2) conduct and publication of policy researches on human development issues; (3) monitoring of the achievements, breakthroughs, deficiencies and gaps ...
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The Philippine Statistics Authority forecasted that the number would most likely be higher in the following months. President Bongbong Marcos claimed that the record inflation rate was "not that high". [226] On January 5, 2023, the Philippines rapidly increased to a record-breaking 8.1% inflation from December 2022. [227] [228]