Thousands of Filipinos at risk of losing jobs
MANILA, Philippines—Senator Edgardo Angara said on Wednesday that close to 60,000 Filipinos could lose their jobs abroad, mostly from the United States, due to the worldwide economic slump.
“If not handled correctly, the financial crisis we see today will become tomorrow’s human crisis,” Angara told the Philippine Daily Inquirer.
Angara said that 590,000 of the 5.1 million overseas Filipino workers (OFW) were “at risk of losing their jobs.”
These include 129,000 in the US under temporary working visas, particularly those in hotels, casinos as well as agricultural workers; 48,000 seafarers in cruise ships; 268,000 factory workers in South Korea, Taiwan and Macau; 130,000 household service workers in Singapore, Macau and Hong Kong, according to the senator.
“Of this number, 50,000 to 100,000 are losing their jobs now,” he said.
The best way to create jobs and stimulate consumption, especially in rural areas, would be through infrastructure spending, Angara added.
The Philippines is home to millions of poor citizens who rely on the dollar remittances of migrant workers in order to survive the present high cost of living. It is an impoverished nation with rich natural resources, which unfortunately, remain undeveloped.