High PHL population may present economic opportunities – PopCom

admin   •   January 7, 2016   •   3352

FILE PHOTO: Employees pass on a street in Makati Business Center. (ROVIC BALUNSAY / Photoville International)

FILE PHOTO: Employees pass on a street in Makati Business Center. (ROVIC BALUNSAY / Photoville International)

MANILA, Philippines – The Commission on Population or Popcom believes that the Philippines’ growing population also contributes a lot to the country’s economic development.

Although alarming, the Commission on Population’s projection that the Philippines’ population will hit 104.2 million by the end of 2016 also presents many opportunities to help our economy get ahead of other economies.

Commission on Population Executive Director Juan Antonio Perez III believes that the current population boom will provide a strong labor force for the country.
“If everyone is able to work, then that will be contributing to the economy,” he said. Moreover, this will also attract more foreign investments, he added.
Perez compared the Philippines’ age structure and current situation with those of China’s, which is facing social and economic problems because of its policies on population control.

Last October, China eased its family planning restrictions, allowing all couples to have two children after decades of the strict one-child policy.
The move aims to alleviate demographic strains on the nation’s economy, such as a shrinking workforce and gender imbalances.

“We’re different in terms of the age structure. In China, [their] fertility rate is very low. They have a very small, or relatively small number [rather], of younger people and people in the productive age group who are supporting a big number of old people. In the Philippines, we are opposite,” said Perez.

However, despite the country’s population growth and its contribution to the economy, many Filipinos still belong to the fifth quintile or poorest of the poor.

With this, Perez explained that the government should invest in human capital and development, particularly in improving and strengthening education, health services and job creation programs.

“An increase in population would mean that health services and education for the younger generation should be available. We should be able to give them decent work, access to appropriate education [which] is going to help them in their future work. Those are important areas.”

The Commission on Population Continues to implement various programs on responsible parenthood and reproductive health which help couples realize their desired timing, spacing and number of children in accordance with their socioeconomic, emotional and psychological capacity. (BIANCA DAVA/UNTVNews)

Inflation rate peaks at 3.5% in December 2020 due to high food prices

Aileen Cerrudo   •   January 5, 2021

MANILA, Philippines — The inflation rate in December 2020 peaked at 3.5% due to the high prices of pork, vegetables, and other food products.

This is higher compared to the 3.3% inflation rate recorded in November and the highest inflation rate recorded in the country since March 2019.

Philippine Statistics Authority (PSA) Usec. Dr. Dennis Mapa said aside from the food products, an increase in the transportation fares and alcoholic beverages also contributed to the December 2020 rate.

“This would be attributed to the demand dahil ginagamit talaga sa pagluluto (it is used for cooking) and, of course, the celebration particularly last Christmas and the New Year pushed the demand to increase and also we have concerns related to the supply,” he said.

Meanwhile, the PSA expects lower prices of goods this January. -AAC (with reports from Asher Cadapan Jr.)

Unemployment rate in October 2020 eases to 8.7% —PSA

Aileen Cerrudo   •   December 3, 2020

The unemployment rate in October 2020 eases to 8.7%, according to the Philippine Statistics Authority (PSA).

From April 2020, with a 17.6% unemployment rate, the number of unemployed Filipinos continued to drop to 10% in July and 8.7% in October. This is equivalent to 3.8 million Filipinos, 15 years old and above, who are unemployed.

With several establishments reopening after strict lockdowns due to the coronavirus disease (COVID-19), several Filipinos were able to find jobs during the last quarter of the year.

Meanwhile, the underemployment rate also droppedd to 14.4% this October, compared to 17.3%t last July.

The PSA said the economy is gradually recovering as lockdowns continue to ease. -AAC

PH climbs to 50th spot among 131 economies in Global Innovation Index 2020

Aileen Cerrudo   •   September 4, 2020

The Philippines has climbed up the rankings of the Global Innovation Index (GII) 2020, moving up to the 50th spot out of 131 countries.

Rising four notches from its 54th rank in 2019, the Philippines’ standing has been improving for two consecutive years. The Global Innovation Index ranks the innovation capabilities of countries across the globe.

According to the GII 2020 report, the Philippines stood out in the areas of innovation in the business sector as well as the innovative outcomes produced by its investments.

“The report disclosed that the country performed beyond expectation as it grabbed rank 6th in Productivity growth, rank 7th in Firms offering formal training, and rank 8th globally in the area of Utility models by origin,” the Department of Science and Technology (DOST) said in a statement.

Along with India, Vietnam, and China, the Philippines has made the most significant progress in the global ranking. -AAC

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