Sunday, May 24, 2009

Labor export still R.P. ace, economists say

Labor export still R.P. ace, economists say: "Arroyo’s data showed that Taiwan accounted for the highest number of OFWs (78.7 percent of the total 6,405) recorded to have lost their jobs since the US declared its economy in recession last year. Still, Arroyo told reporters after his talk, he sees the displacement of workers in the country and abroad as bottoming out.

“We expect [the economy’s performance in] Q4 to be more vibrant, coming from a stronger Q3, mainly because of additional employment,” Arroyo said.

He cited as example the jobs that the market requires in the near future: 15,000 to 20,000 in Guam due to the transfer of the US base from Osaka, Japan; and 60,000 in Saudi Arabia as that country is building five mega-cities and prefer Filipino labor."

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