10.9 million Filipinos lost jobs, had lower incomes due to COVID-19 pandemic: ILO

Around 10.9 million Filipinos lost their jobs and had lower incomes and working hours this year as COVID-19 affected the economy, according to an International Labor Organization report.

The report showed two thirds or 7.2 million of the 10.9 million vulnerable Filipino workers may be “displaced” as the Philippines shifts towards online.

The ILO said, “The impact of the crisis has been far-reaching, with underemployment surging as millions of workers are asked to work reduced hours or no hours at all.”

High-risk sectors with most displacements include manufacturing, transportation and storage, accommodation and food service activities, as well as arts, entertainment, and recreation.

The ILO added employment recovery “will take some time” as with the process of vaccinating every person, and the bounce-back of the tourism-heavy economies like the Philippines would depend on the confidence of travelers which is hinged on vaccination.

Source: : https://news.abs-cbn.com/business/12/15/20/109-million-filipinos-lost-jobs-had-lower-incomes-due-to-covid-19-pandemic-ilo

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