PH remittances hit $33 B – WB; 80,000 jobs on Labor Day – gov’t » Manila Bulletin News

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PH remittances hit $33 B – WB; 80,000 jobs on Labor Day – gov’t

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Fred M. Lobo

Fred M. Lobo

By Fred M. Lobo

 

Remittances of overseas Filipino workers (OFWs) back home reached a record $33 billion in 2017, placing the Philippines No. 3 in world ranking, according to the World Bank.

Huge remittances continue to propel Philippine economy.

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The government, meanwhile, said some 80,000 jobs are open to applicants on May 1, Labor Day.

Yes to more jobs and a better deal for Pinoys in trying times.

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The WB said that remittance inflows to the Philippines reached $33 billion, placing the country in No.3 world ranking, with India in No.1 ($69 billion) and China in No.2 ($64 billion).

Overseas Pinoy are productive. Hence, they should be protected.

***

The WB added that last year’s stronger-than-expected recovery in remittances — payments that are key to supporting the economies of many poor countries — was driven by growth in Europe, Russia and the United States.

Officially recorded remittances to low-and middle-income countries reached $466 billion in 2017, an increase of 8.5 percent over $429 billion in 2016, and are expected to further increase by about four percent this year, WB added.

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However, the WB noted that the global average cost of sending $200 was 7.1 percent in the first quarter of 2018, and sub-Saharan Africa remains the most expensive place to send money, at an average cost is 9.4 percent.

“While remittances are growing, countries, institutions, and development agencies must continue to chip away at high costs of remitting so that families receive more of the money,” said DilipRatha, lead author of the remittance report.

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Countries should to take steps to simplify the process to reduce the costs, including “introducing more efficient technology,” the WB suggested.

Yes to lower remittance costs, especially for Pinoy OFWs.

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Meanwhile, nearly 80,000 local and overseas job openings will be made available to job hunters during the coming Labor Day job and business fair, said the Department of Labor and Employment (DOLE).

Yes to more job offerings from the private sector and the government.

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Labor Secretary Silvestre Bello III said the Duterte administration is “paying tribute” and “giving honor” to the Filipino workforce on Labor Day.

Make it an everyday habit.

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Bello said a total of 829 participating employers (666 local and 163 overseas) will be offering 78,675 local, overseas, and government jobs.

Yes to more employment support from the private sector.

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The DOLE said local jobs with the most number of vacancies are for soldier (AFP/PNP) – 4,002; customer service representative – 1,470; production worker/factory worker – 1,443; mason (finishing/rough) – 1,385; call center agent – 1,306; production machine operator – 1,288; construction worker – 900; BJMP (government) – 889; service crew – 880; and carpenter (finishing/rough) – 708.

Local jobs are attractive to romantic and family-oriented Pinoys.

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The DOLE added that for those seeking overseas employment, the top vacancies are as follows: nurses – 3,988; technicians – 1,546; food and beverage staffers – 689; engineers (mechanical, electrical, civil) – 344; production /factory workers – 300; sales associate professionals – 200; construction workers – 200; assistant head managers – 174; cooks – 157; drivers (general) – 150; and housekeeping attendants – 123.

Foreign jobs are attractive to the adventurous and dreamy Pinoys.

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The DOLE and the Department of Trade and Industry (DTI) said they will be held on May 1 in 53 strategic sites their so – called Trabaho, Negosyo, Kabuhayan (TNK) job and business fairs.

“ThaNK you!” eager jobseekers would say.

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