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RP says job losses of OFWs in Japan, Arab world minimal 07/16/2011

Saturday, July 16, 2011

RP says job losses of OFWs in Japan, Arab world minimal

07/16/2011
Philippine job losses from unrest in the Arab world and the Japan quake have had little overall impact on the amount of money the huge Filipino overseas workforce sends home, the Central Bank said yesterday.

Cash transfers rose 6.2 percent from a year earlier to $7.9 billion in the five months to May, slightly down from its 6.6 percent growth in the same period last year, it said in a statement.

May transfers rose 6.9 percent year-on-year to $1.7 billion.

“Data... showed that Filipino workers continued to be deployed abroad, offsetting the job losses resulting from social unrest in the Middle East and North African region and the disasters that occurred in Japan,” it said..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20110716nat7.html

1 comment

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