Philippines – Page 104 – Author Carlo Carrasco

Alabang Hills Village 2024-2025 Vehicular Sticker Program in Effect, Applications for Non-Resident Stickers are Being Accepted

April 30, 2024April 27, 2024carlocarrasco

The Alabang Hills Village Association (AHVA) announced that their Vehicular Sticker program for 2024-2025 is now in effect and already they are accepting applications for non-resident/pass-thru stickers. Applications for commercial stickers, Don Manolo Boulevard access (limited to New Life Alabang and San Beda College Alabang) will be accepted starting on May 16, 2024, while applications for residential stickers and bicycles/motorcycles will be accept starting June 17, 2024.

To put things in perspective, posted below is an excerpt from the AHVA’s official announcement dated April 25, 2024. Some parts in boldface…

This is to inform you that the AHVA Vehicle Sticker program for 2024-2025 will commence on Monday, April 29. Following is the schedule of the program by type of vehicle sticker:

Non-resident / Pass Thru: starting April 29

Commercial and Don Manolo Blvd (New Life Alabang, San Beda College Alabang): starting May 16

Resident (Homeowners, Lot Owners, Tenants) and Bicycle/Motorcycle: starting June 17.

For orderly and timely Sticker Processing & Issuance, it will need to be done by appointment. Here are the alternative approaches by which you could apply for a vehicle sticker(s):

Online Application

Apply online via the AHVA website at www.alabanghillsvillage.com
Click on the E-services tab and select “Vehicle Sticker”..
Click on the vehicle sticker category that you are applying for. Please take note of the start dates by vehicle category. The online system for each category will go ‘live’ a few days before each of the indicated start dates.
Download and print an application form and fill out as required.
Follow the online instructions, ensuring you pick a Processing & Issuance day and time that will work best for you.
You will see a Confirmation page after you successfully book an appointment. You will also receive a Confirmatory Email shortly thereafter.

Offline Application

A. AHVA Office Visit: If you cannot or have difficulty applying online, please drop by the AHVA Office during office hours and we will be happy to help you book an appointment. This facility will be available to both Seniors and non-Seniors.

B. Dropbox Submission: Alternatively, you can submit your vehicle sticker application form via dropbox. The Vehicle Sticker Application Form Dropbox will be located in the AHVA Office. Please allow our Sticker Processor within five (5) working days to call you to set up your appointment date and time.

For your convenience, posted below is the actual application form from AHVA for the 2024-2025 vehicular sticker program.

wp-1714126377677 Download

With regards to the fees of the new AHVA stickers, posted below is an excerpt from the association’s April 26, 2024 official announcement. Some parts in boldface…

1. RESIDENT (including all tenants)

A. Private Cars (all vehicles with 3 or more wheels, including vans, pick-ups, & SUVs)

P 300 per car for the first 3 cars

P 600 per car for the 4th car thru 6th car

P 1,200 per car for the 7th car thru 10th car

P 2,500 per car for the 11th & up **

B. Motorcycles or Bicycles

P 250 per motorcycle/bicycle

2. NON-RESIDENT

A. Private Cars (all vehicles with 3 or more wheels, including vans, pick-ups, & SUVs)

One-year sticker: P2,500 per car**

BF / AHV Residents (Reciprocity Arrangements)

P 2,000 per car for the first 2 cars

P 2,500 per car for the 3rd car & up

No discount for applications beyond the deadline

B. Motorcycles or Bicycles – endorsed by a resident or the association of the village

P 500 per motorcycle/bicycle

3. COMMERCIAL VEHICLES

A. With 4 wheels – P4,000 per vehicle

B. With 6+ wheels- P6,000 per vehicle

4. RESIDENCIA

A. Private Cars (all vehicles with 3 or more wheels, including vans, pick-ups, & SUVs)

P 300 per car for the first 2 cars

P 2,500 per car for the 3rd car & up

B. Motorcycles or Bicycles

P 250 per motorcycle/bicycle

5. ANLCC Members & San Beda College students, faculty, and campus workers

Special Pass-thru Sticker (for Don Manolo Blvd. access only)

One-year validity: P 2,500 per vehicle

Replacement Sticker Fees

1. For broken or damaged windshield:

a. Resident – P 150 per sticker

b. Non-Resident – P 300 per sticker

2. For new cars (transfer from old vehicle with valid sticker)

Resident / Non Resident – payment of full fee of sticker

You might have noticed that there is no 2-year non-resident vehicular sticker announced by the AHVA as of now. It’s not clear yet as to when they will announce and release it.

For inquiries about this new development, visit https://alabanghillsvillage.com/ or call them at 88508254. You can visit their office at 1 Don Jesus Boulevard inside Alabang Hills Village from Monday to Friday, 8AM to 5PM. Always remember to follow their rules and speed limits whenever you are in the village.

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BIR extends deadline for online businesses to transition to new withholding tax system to July 14, 2024

April 29, 2024April 16, 2024carlocarrasco

Recently the Bureau of Internal Revenue (BIR) announced that July 14, 2024, is the new deadline for online businesses to transition to the new withholding tax system, according to a GMA Network news report. Previously the deadline was April 15, 2024 and online businesses with annual earnings of over P500,000 were to be covered by the 1% withholding tax.

To put things in perspective, posted below is an excerpt from the GMA news article. Some parts in boldface…

The Bureau of Internal Revenue (BIR) announced Tuesday that it has extended the deadline for online merchants to transition to the new withholding tax system by 90 days.

According to the agency, Revenue Memorandum Circular No. 55-2024 extended the transitory period for compliance with Revenue Regulations (RR) No. 16-2023 until July 14 after considering the private sector’s request on the implementation.

“This 90-day extension of the transitory period under RR No. 16-2023 shows the BIR’s commitment in listening to the voice of the private sector,” BIR Commissioner Jun Lumagui said in a statement.

“This is part of my administration’s thrust on Excellent Taxpayer Service. We hear the thoughts of the private sector, and if the same is reasonable, then we make policy adjustments for the benefit of the Filipino people,” added Lumagui.

Under RR No. 16-2023, one-half of the gross remittances of e-marketplace operations and digital financial services providers to the sellers or merchants for goods or services paid through their platform shall be subject to a 1% creditable withholding tax.

The BIR said that the online transactions industry has experienced growth during and after the coronavirus pandemic but it appeared that many online sellers were not paying their share in taxes.

RR No. 16-2023 was signed by Lumagui and Finance Secretary Benjamin Diokno in December 2023.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that the new deadline will give all online businesses here in the Philippines enough time to transition into the new withholding tax system?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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PDEA arrests three suspects and seize P3.4 million worth of illegal substance in Parañaque City

April 29, 2024April 20, 2024carlocarrasco

Recently in the City of Parañaque, agents of the Philippine Drug Enforcement Agency (PDEA) organized a buy-bust operation which resulted in the arrests of three suspects and the seizure of more than P3 million worth of illegal substance at the basement parking of a certain shopping mall, according to a Manila Bulletin news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

Government anti-narcotics authorities seized P3.4 million worth of shabu on Tuesday, April 16, following the arrest of three suspects during a buy-bust operation at the basement parking of a shopping mall in Parañaque City.

In an initial report, the Philippine Drug Enforcement Agency (PDEA) said that the law enforcers confiscated 500 grams of shabu from Asher Guiani, 32; Ariedz Guiani, 27; and Almajid Kudandin, 22, at around 12:20 p.m. during the operation in barangay Don Bosco.

Aside from shabu concealed in six pieces of knot-tied transparent plastic sachets, the operatives seized a genuine P1,000 bill with serial number NUO69267 placed on top of boodle money, one cellphone, a laminated temp PhilSys identification (ID) card under the name of Ariedz Guiaman Guiani and black Hyundai Accent vehicle with license plate AQQ2908 with ignition key.

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could be more people engaging in illegal drugs and other high-stakes criminal activities within the city? Do you think it will be long before Parañaque will get declared as a drug-free city?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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DTI reminds businesses that permits should first be secured for marketing stunts

April 26, 2024April 12, 2024carlocarrasco

In light of an April Fool’s Day promo that convinced a person to really take the challenge physically, the Department of Trade and Industry (DTI) reminded businesses that they should secure permits from them in order to do any marketing stunts, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Following the recent online uproar over takoyaki store’s marketing stunt on April Fool’s Day, the Department of Trade and Industry (DTI) reminded businesses to secure permits from the agency first before conducting such activity.

In an interview with Bagong Pilipinas Ngayon on Thursday, DTI Assistant Secretary Amanda Nograles said a marketing stunt falls under the definition of sales promotion because its purpose is to increase customers and sales, as well as to promote the brand.

“Under the regulations, DTI has the authority over that. They have to secure a permit (for sales promotion),” Nograles said in mixed English and Filipino.

To recall, takoyaki store “Taragis” posted on Facebook on April Fool’s Day a dare to tattoo Taragis’ logo on one’s forehead, and whoever will do it will receive a PHP100,000 prize.

A person commented on a photo of him with the store’s logo on his forehead and asking the business owner, Carl Quion, where to claim his prize.

Taragis’ Facebook page made another post that the establishment does not have any responsibility on what happened because the post had a disclaimer.

The event caused uproar online, and on April 6, the business owner admitted that it was all a marketing stunt and the person who tattooed the business logo on his forehead was an accomplice.

“The establishment admitted that it’s a marketing gimmick to lure (customers), promote the establishment, (so) it appears to be promotional in that sense,” Nograles said.

“If they don’t have the promo permit from DTI, they can be held responsible for the violation of conducting (the) promotion without securing first the sales of promo permit,” she added.

Nograles said the DTI has a team monitoring establishments on their conduct of sales promotion both onsite and online.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that all businesses here in the Philippines that intend to organize marketing stunts should contact the DTI first before executing such moves? Do you think that more Filipinos should understand that April Fool’s Day itself always comes with clever forms of deception and temptation?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Ultra Safe Nuclear Corp. (USNC) nuclear energy investment plan for Philippines moves forward

April 25, 2024April 12, 2024carlocarrasco

Recently the administration of Philippine President Ferdinand “Bongbong” Marcos, Jr., and top officials of the Ultra Safe Nuclear Corp. (USNC) met in Washington, D.C., and discussed the progress of the company’s nuclear energy investment plan in the country, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Friday (Manila time) hailed the developments in the planned nuclear energy investment of Washington-based Ultra Safe Nuclear Corp. (USNC) in the Philippines.

Marcos met with USNC’s top executives, led by its chief executive officer Francesco Venmeri, in the United States (US) to discuss the progress in the firm’s commitment to bring a reliable and clean energy source to the Philippines.

“We are delighted to share the progress of our ongoing collaboration with Ultra Safe Nuclear Corp. since our inaugural meeting in 2023. Their investment in Micro Modular Reactors (MMRs) promises a reliable and clean energy solution for the country,” Marcos said in a Facebook post after his meeting with USNC officials.

“This initiative ensures greater energy security, reduced reliance on fossil fuels, and holds the promise of substantial economic gains for the Filipino people.”

During the meeting with USNC executives, Energy Secretary Rafael Lotilla briefed Marcos about the ongoing legislative measures in Congress that would provide the legal framework for the company’s planned investment and operation in the Philippines.

Lotilla told Marcos that the regulatory framework has been passed by the House of Representatives.

On Nov. 22, 2023, the House approved House Bill 9293, or the “Philippine National Nuclear Energy Safety Act, ” and last March 4, it also approved HB 9876 or the “Philippine Nuclear Liability Act.”

Marcos expressed hope that the bill gets passed in the Senate so that the necessary legal requirements could be completed soon to commence the project.

“You’re done already in the House. Okay. So, the elements that need to be there, the provisions that need to be (included), we can do in the Senate and then there’s one of course, is the bicam down the road. So, that would be the process from the government side,” the President said during the meeting.

“We spoke about this before. We’re going to go ahead with the program, with (the) project.”

Marcos’ meeting with USNC officials is a follow-up of their initial meeting in the US in May 2023, followed by the signing of the memorandum of understanding (MOU) on nuclear cooperation in Nov. 2023, and the firm’s participation in the US Presidential Trade and Investment Mission to the Philippines in March 2024.

The USNC is a global leader and vertical integrator of nuclear technologies and services. Its major initiatives include the MMR, Fully Ceramic Micro-encapsulated (FCM) nuclear fuel, and nuclear power and propulsion technologies for space exploration.

The MMR is a fourth-generation nuclear energy system that delivers safe, zero-carbon, cost-effective electricity and heat to utilities, industry, and remote communities.

This will be USNC’s first investment in the country and it partnered with Meralco for an MMR study.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you feel confident that safe and secure nuclear energy in the Philippines will be realized before the decade ends? Are people in your local community knowledgeable about the potential benefits of nuclear energy?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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NLCOM provides assistance to fire victims in Las Piñas City and Parañaque City

April 25, 2024April 16, 2024carlocarrasco

Recently the New Life Community Care Foundation International, Inc. (NLCOM) – the compassion arm of New Life Philippines located inside Alabang Hills Village in Muntinlupa City – announced through social media that it has provided assistance and relief to fire victims in the cities of Las Piñas and Parañaque.

To put things in perspective, posted below is an excerpt from the April 15, 2024 social media post of NLCOM. Some parts in boldface…

On March 13, we visited four evacuation centers in Las Pinas in response to fire incidents. In addition to providing seven weeks of consecutive feeding for victims of the Pilar fire, we revisited the San Isidro – Manuyo Dos Evacuation Center.

We also extended assistance to those affected by the recent fire disaster on April 11 in Greenhills, Barangay San Dionisio, Paranaque, where approximately 180 individuals were affected. We were met with hopeful eyes and grateful smiles as they shared stories of how high school students donated their lunch boxes to the community.

We are grateful for your support and invite you to partner with us in aiding our fellow Filipinos who have been displaced.

For the newcomers reading this, I previously blogged about NLCOM back in 2020 which you can read by clicking here and my most recent blog can viewed by clicking here, here, here and here. As mentioned earlier, NLCOM has a history of providing relief to disaster victims and helping them rebuild their lives and communities as they recover.

NLCOM is committed to organizing activities from disaster preparedness trainings, relief goods distribution, mobile kitchen feeding operations, Psychological First Aid to kids and adults traumatized by a disaster, and rebuilding of damaged houses. To get to know NLCOM better, I recommend you watch their official YouTube video below…

If you have decided to help people through NLCOM, be aware that New Life’s compassion arm is accepting donations. You may send your monetary donations to:

NEW LIFE COMMUNITY CARE FOUNDATION INT’L. INC.

PESO CHECKING ACCOUNT:

Unionbank (Richville Branch)

00-133000543-3

US DOLLAR ACCOUNT:

Unionbank (Richville Branch)

13-133000530-7

Swift Code: ubpphphmm

Via PAYPAL:

https://www.paypal.com/paypalme/nlcomPH

For more information about NLCOM, visit https://nlcom.org.ph/ or visit their office at 2 Don Manolo Boulevard, Alabang Hills Village, Barangay Cupang, Muntinlupa City, Metro Manila, Philippines. Contact them at landline 88091542 extension 426.

In ending post, let me share with you a few holy scriptures that should remind you that God is our source, our provider and the blessedness of giving is absolutely true.

The one who blesses others is abundantly blessed;

those who help others are helped.

Proverbs 11:25 (MSG)

He who has pity on the poor lends to the Lord, and that which he has given He will repay to him.

Proverbs 19:17 (AMPC)

Let nothing be done through selfish ambition or conceit, but in lowliness of mind let each esteem others better than himself. Let each of you look out not only for his own interests, but also for the interests of others.

Philippians 2:3-4 (NKJV)

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Vehicles for PWD formally turned over by Las Piñas City Government

April 24, 2024April 16, 2024carlocarrasco

Recently in the City of Las Piñas, the City Government formally turned over vehicles for the transportation and benefit of Persons With Disabilities (PWDs) during a ceremony at City Hall, according to the City Government’s social media post.

To put things in perspective, posted below is an excerpt from the City Government’s social media post. Some parts in boldface…

The City Local Government of Las Piñas, led by Vice Mayor April Aguilar, conducted its weekly flag-raising ceremony this Monday, which included a significant initiative for the community’s disabled members. The ceremony featured the turnover of specially equipped vehicles intended for the transportation of Persons With Disabilities (PWDs).

Vice Mayor Aguilar, overseeing the event, emphasized the local government’s commitment to inclusivity and mobility for all citizens. She highlighted that the new vehicles would help PWDs access various services more easily and participate more actively in community life.

The event, attended by city officials and local leaders, underscores the administration’s efforts to enhance the quality of life for all residents, particularly those facing mobility challenges.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you delighted with the turnover of vehicles for the local PWDs? Are there many members of your local community who identify as PWD?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Flavors of NCR 2024 was a blast of delicacies, discoveries and fun

April 23, 2024April 22, 2024carlocarrasco

Recently Muntinlupa City hosted the 2024 edition of the Flavors of NCR food festival at the Filinvest City Central Park in Alabang and I personally witnessed the formal opening ceremony which involved many high-level officials and special guests. A lot of people visited the food festival on April 19 and 20 which added to the credibility of Filinvest City Central Park as a suitable open-air venue for special events.

For the newcomers reading this, Flavors of NCR is a special event presented by the Association of Tourism Officers – NCR which collaborated with the City Government of Muntinlupa for this year’s event. It is a showcase of unique cuisine found in the sixteen cities and one municipality of the National Capital Region (NCR). The local government units (LGUs) that participated include: Caloocan, Las Piñas, Makati, Malabon, Mandaluyong, Manila, Marikina, Muntinlupa, Navotas, Parañaque, Pasay, Pasig, Quezon City, San Juan, Taguig, Valenzuela, and the Municipality of Pateros.

Event launch

The ribbon cutting led by high officials that include Taguig City Mayor Lani Cayetano (3rd from left), Muntinlupa Mayor Ruffy Biazon (3rd from right) and Department of Tourism-NCR Regional Director Sharlene Zabala-Batin (2nd from left) to name a few.

The opening ceremony of Flavors of NCR 2024 was attended by Muntinlupa City Mayor Ruffy Biazon, Taguig City Mayor Lani Cayetano, Department of Tourism-NCR Regional Director Sharlene Zabala-Batin, Association of Tourism Officers-NCR headed by Manila City Tourism chief Charlie Dungo, and Pasay City chief of staff Peter Eric Pardo. Also present were Muntinlupa Vice Mayor Temy Simundac and Muntinlupa City Council Raul Corro.

“We are delighted to host the Flavors of NCR,” Mayor Biazon stated during his welcome remarks to all the guests. “(We acknowledge) the presence of other cities here so that their products will be showcased and we are proud to have you here.”

Biazon stressed that hosting the Flavors of NCR opens up opportunities for Metro Manila’s LGUs and their respective food-and-beverage stakeholders access to the Calabarzon region composed of Cavite, Laguna, Batangas, Rizal and Quezon with a collective population of over sixteen million people.

It should be noted that the Alabang area of Muntinlupa is a popular destination for Calabarzon residents as well as those from nearby cities who enjoy shopping and recreational activities during the weekend. That being said, Flavors of NCR fits nicely with the weekend vibe at Filinvest City.

After the formal ribbon-cutting was done, Flavors of NCR 2024 officially opened and a lot of people and photographers followed Biazon and the guests visit the different food booths of each city.

Each LGU and their best

I visited and explored the designated areas (also referred to as “booths”) of each LGU during the food festival. Each area had a different style of interiors and layouts of food, drinks and other products being offered to visitors. There were also chairs and tables present for those who need to seat down and eat. Check out my raw YouTube videos plus pictures below…

*Native delicacies on display for sale at the Las Piñas City booth.*

*Burger patties being cooked at the Mandaluyong City area.*

*Delicious halo-halo from Aling Consuelo Halo-Halo sa Ugbo. This was sold at P100 each.*

*Marikina City had four sellers that attracted customers during the food festival.*

*Drinks, dessert and other stuff offered to customers at the Las Piñas City booth.*

Flavors of NCR was indeed a true showcase of what local businesses per LGU has to offer. Manila had halo-halo sold by Aling Consuelo Halo-Halo Sa Ugbo, Las Piñas City had Bea’s Home of Quality Kakanin and Other Native Delicacies selling native delights, Quezon City had Papa Diddi’s Handcrafted Ice Cream for those wanting something cold and sweet, Mandaluyong City had Ben’s Burjer for customers who love hot burgers, Marikina City had Mang Ding’s BBQ and Nanay Ipang’s Everlasting, and so on.

As expected, the variety of food and drinks were really great. Offered to customers were chicken, beef, pork, siomai, barbeque, puto, bibingka, pansit, siopao, fried chicken, roasted pig, pastries, cakes, halo-halo and ice cream to name some. There were also non-food products being sold such as bags and accessories in some booths.

*Sea food and other food items being sold at the Parañaque City booth.*

*Fried chicken being prepared for customers.*

*The best of Muntinlupa City offered to customers.*

*Food and bags for sale inside the booth of Malabon City.*

It was really nice to see these small businesses represent their locality and offered their best products to visitors at Filinvest City Central Park. Adding zest to the food festival were some performances by different bands from the cities of NCR. There also was a modern dance activity that drew in lots of visitors which added to the customers at the food festival.

Conclusion

The 2024 edition of Flavors of NCR at Filinvest City Central Park was indeed a nice showcase of what each LGU had to offer for those who love food and drinks. In addition, this festival really emphasized unity between the local governments of NCR and it also promoted local tourism. The festival also attracted some residents of Filinvest City’s residential towers (plus others from Ayala Alabang, Palms Pointe Village and other residential communities) and some employees (who worked at offices near the park) whose shifts ended.

In the perspective of tourism, this event really boosted Filinvest City Central Park’s status as a venue for special events or activities. To date, the said park continues to be an attraction for visitors and already it has been used by organizers of sports events and musical events.

The successful staging of Flavors of NCR could inspire food festival organizers to have their events held within Filinvest City in the future.

Let me end this post by asking you readers: Were you able to attend Flavors of NCR at the central park in Filinvest City? If you did, how was your experience? Do you wish to see another food festival to be held at Filinvest City Central Park soon?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Foreign direct investments (FDI) inflows jump almost 90% in February 2024

April 23, 2024April 10, 2024carlocarrasco

The data released by the Bangko Sentral ng Pilipinas (BSP) confirmed that foreign direct investments (FDI) net inflow went up by almost ninety percent in February 2024, according to a Philippine News Agency (PNA) news article. In terms of Dollar amount, the estimate was over $900 million.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Foreign direct investments (FDI) net inflow went up by 89.9 percent in February this year.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that FDI net inflows during the month amounted to USD907 million, up from the USD478 million recorded in January 2023.

FDIs include investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent, and investment made by a non-resident subsidiary or associate in its resident direct investor.

The BSP said an FDI can be in the form of equity capital, reinvestment of earnings, and borrowings.

“The increase in FDI was supported mainly by the 173.2 percent expansion in non-residents’ net investments in debt instruments to USD820 million from USD300 million in January 2023,” said the BSP.

Reinvestment of earnings also increased by 16.4 percent to USD99 million from USD85 million. The BSP said top sources of FDIs during the month include Japan and the United States.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there is enough momentum for FDI net inflow to exceed the $1 billion mark by the first few months of 2025? Do you think the government is doing a good job attracting foreign investments?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines unemployment rate falls down to 3.5% in February 2024

April 23, 2024April 11, 2024carlocarrasco

Recently the Philippine Statistics Authority (PSA) confirmed that the unemployment rate of the nation fell down to 3.5% in February 2024, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Unemployment rate fell to 3.5 percent in February this year from 4.5 percent in January, the Philippine Statistics Authority (PSA) reported on Thursday.

In a briefing, National Statistician Dennis Mapa said based on the time series, the unemployment rate during the month was the second lowest on record since the 3.1 percent in December 2023. Unemployment rate in February last year was 4.8 percent.

Mapa said the number of unemployed Filipinos went down to 1.80 million from 2.47 million and 2.15 million unemployed persons in February 2023 and January 2024.

The Labor Force Participation Rate (LFPR), meanwhile, was at 64.8 percent or about 50.75 million Filipinos aged 15 years and above who were either employed or unemployed.

This is lower than the 66.6 percent LFPR seen in February last year with young people (-669,000) and women (-404,000) withdrawing from the labor force. 

“The needs of vulnerable groups, including women, youth, older people, and those with disabilities, remain our priority to encourage workforce participation. We will improve access to quality childcare, finance, and entrepreneurship opportunities to support women’s entry and retention in the labor market,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said in a separate statement.

Balisacan said the government will revisit the existing policy governing alternative work modes, such as the Telecommuting Act, and adapt it to the evolving work landscape to address the growing preference for remote work.

“The government will explore enhancing the potential of part-time work to help promote lifelong learning. A framework for part-time work and similar set-ups can allow workers to retool or upskill without leaving the workforce,” Balisacan said.

The country’s employment rate, meanwhile, went up to 96.5 percent in February from 95.5 percent in January and 95.2 percent in February this year.

The number of employed persons was registered at 48.95 million, higher than the recorded number of employed persons in February 2023 at 48.80 million and in January 2024 at 45.94 million.

Major industries with the largest increase in employment include construction (470,000), transportation and storage (444,000), administrative and support service activities (344,000), manufacturing (313,000), and accommodation and food service activities (210,000).

Underemployed persons – or those who expressed the desire to have additional hours of work in their current job or to have an additional job or to have a new job with longer hours of work – reached 6.08 million, down from last year’s 6.29 million.

The NEDA said the Marcos administration will continue to prioritize people-centered policies and attract job-creating investments to support the continued improvement of the Philippine labor market and enable Filipinos to earn higher wages from better jobs.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the nation’s economy and employers still have enough momentum to move forward and create more new jobs over the next twelve months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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