Recently, Finance Secretary Ralph Recto expressed during an interview with Bloomberg TV that the Philippine economy will grow by at least 6% this year and mentioned factors like continued infrastructure spending, low unemployment, the cutting of interest rates and more, 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…
Finance Secretary Ralph Recto said he is confident that Philippine economic growth would hit at least 6 percent this year.
In an interview with Bloomberg TV on Wednesday, Recto said he is banking on more interest rate cuts, infrastructure spending, and election-related spending to boost economic growth.
“We’re pretty confident that we would hit at least a 6 percent growth. The World Bank, the IMF (International Monetary Fund), and many other institutions are saying that we’re on track to 6 percent. Our macroeconomic fundamentals are very good,” said Recto.
“Unemployment is down. The middle class is growing. We’re investing more than 5 percent of GDP (gross domestic product) in infrastructure. We have elections also right now, and during elections, there’s more spending, so we’re pretty confident we hit at the very least 6 percent this year.
He said with inflation settling within the government’s 2 percent to 4 percent target range, the Bangko Sentral ng Pilipinas (BSP) has room to further reduce policy rates, which in turn, would boost consumer spending.
“Equally important, I suppose, is the reduction of interest rates. It would appear that, because inflation has been controlled in the Philippines and the inflation today is something like 2.5 percent, there is room for a rate cut in our next (meeting) so we’re in an easing cycle. It’s a high probability that we could do a rate cut also for in our next meeting,” he said.
The Monetary Board of the BSP has so far cut rates by 75 basis points last year. Recto said he is hoping that the BSP Monetary Board would deliver a 50 to 75 basis point cut this year.
“Hopefully, at the minimum 50 and probably 75 basis points, for the year that will help propel growth, consumption, and investments moving forward,” he said, adding that the rate cuts would boost economic growth by at least half a percent.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will grow by at least 6% by the end of this year? Do you think Recto’s interview will convince foreign investors to invest in the Philippines this year?
The unemployment rate of the Philippines ended up at 3.9% as of March 2024 which is an improvement over what was estimated a year earlier, according to a Philippine News Agency (PNA) news article. In terms of unemployed Filipinos, the number is at two million (versus 2.42 million unemployed in March 2023).
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The country’s unemployment rate in March this year was estimated at 3.9 percent, lower than the recorded 4.7 percent in March last year, National Statistician Dennis Mapa said.
In a briefing on Wednesday, Mapa said the number of unemployed Filipinos during the month went down to 2 million from 2.42 million in March 2023.
Mapa said the Labor Force Participation Rate (LFPR) in March 2024 was registered at 65.3 percent, or about 51.15 million Filipinos aged 15 and above who were either employed or unemployed.
The employment rate in March 2024 was recorded at 96.1 percent, higher than the 95.3 percent estimate in March of the previous year.
Several sectors contributed to employment gains – The wholesale and retail trade sector saw the highest annual increase, employing 963,000, followed by manufacturing with 553,000 new jobs, and public administration and defense with 229,000 additional employed individuals.
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 – also declined to 5.39 million in March from last year’s 5.44 million.
In a statement, the National Economic and Development Authority (NEDA) said the government remains committed to creating more high-quality jobs for Filipinos and fostering a resilient workforce.
“We will continue to prioritize creating high-quality and well-paying jobs to address the rising issues of vulnerable employment. We will focus on attracting job-generating investments from the private sector and scaling up social and physical infrastructure to improve our people’s employment prospects to achieve this goal. These will be accompanied by reskilling and upskilling programs to increase employability,” said NEDA Secretary Arsenio Balisacan.
Balisacan said a medium- and long-term Foreign Investment Promotion and Marketing Plan (FIPMP) is underway and targeted to be completed by June 30.
The Inter-Agency Investment Promotion Coordination Committee, established following the amendment of the Foreign Investment Act, leads the formulation of the FIPMP.
Balisacan said the government also plans to enrich the content of training programs for workers and employers by integrating courses on advanced productivity tools such as data science, analytics, and artificial intelligence.
“For the government to sustain a robust labor market and reap the benefits of the demographic dividend, it must ensure that people are healthy, educated, and skilled. To facilitate the development of soft and hard skills among workers and create a more agile and adaptive workforce, we at NEDA continue to advocate for the passage of the Apprenticeship Bill, Lifelong Learning Bill, and the Enterprise Productivity Act,” Balisacan said.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the newest statistics on employment and unemployment show that bigger economic opportunities will be realized before the end of the year? Do you think the government should do more to attract more foreign investors to create even more new jobs?
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?
Based on the latest findings of the Philippine Statistic Authority (PSA), the national unemployment rate fell down to 3.6% as of November 2023, 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…
The country’s unemployment rate fell to its lowest level in November last year, while employment reached its highest since April 2005, the Philippine Statistics Authority (PSA) reported on Tuesday.
At a briefing, National Statistician Dennis Mapa said results of the PSA’s latest Labor Force Survey (LFS) showed that unemployment rate further went down to 3.6 percent during the month, down from the 4.2 percent recorded in November 2022 and October 2023.
It was the lowest recorded unemployment rate since the PSA introduced a new methodology for measuring the LFS in 2005.
In terms of magnitude, the number of unemployed Filipinos was estimated at 1.83 million, down from 2.18 million in November 2022 and 2.09 million last October.
The Labor Force Participation Rate (LFPR), meanwhile, was registered at 65.9 percent or about 51.47 million Filipinos aged 15 and above who were either employed or unemployed.
The LFPR during the month was lower than the 67.5 percent recorded in November last year.
In a statement, the National Economic and Development Authority (NEDA) said the decline was mainly due to reduced participation of young people (34.4 percent from 40 percent) and women (55.4 percent from 57.8 percent) in the labor force, influenced by family responsibilities, schooling, and age-related factors.
The country’s employment rate was estimated at 96.4 percent, also the highest recorded since April 2005.
The number of employed Filipinos was estimated at 49.64 million.
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 was recorded at 5.6 million, lower than last year’s 7.16 million.
NEDA Secretary Arsenio Balisacan said there is a need to expand the digital economy, including the digitalization of Micro, Small, and Medium Enterprises and startups, to address the declining labor force and increase labor market gains in 2024 and beyond.
“Digitalization enables alternative work arrangements, particularly for the youth, women, and those in the creative sector. This will help address the declining labor force,” Balisacan said.
“We will take full advantage of the liberalization reforms intended to attract investments in the Philippines, especially in digital infrastructure. Upgrading our infrastructure will attract investments that generate high-quality jobs,” he added.
Balisacan said the government will further support a more productive, agile, and adaptive workforce by passing and implementing crucial regulatory reforms, such as the Apprenticeship Bill, Lifelong Learning Bill, and the Enterprise Productivity Act.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines has enough momentum to grow and open up new job opportunities for more Filipinos?
As the Philippines continues to move forward in this post-pandemic age, the national unemployment rate fell down to 4.4% this past August, according to a Manila Standard news report.
To put things in perspective, posted below is an excerpt from the Manila Standard news report. Some parts in boldface…
The unemployment rate in the Philippines fell to a three-month low of 4.4 percent in August 2023 from 4.8 percent in July, the Philippine Statistics Authority said Friday.
National statistician and civil registrar-general Dennis Mapa said in an online briefing the August unemployment rate was also lower than 5.3 percent recorded a year ago.
This translated to about 468,000 fewer unemployed individuals in August, according to the National Economic and Development Authority (NEDA).
“In terms of magnitude, there were 2.21 million unemployed Filipinos aged 15 years and over in August 2023,” Mapa said.
“It was also lower than the 2.27 million unemployed in July 2023 and 2.68 million a year ago,” he said.
The underemployment rate also fell from 14.7 percent in August 2022 and 15.9 percent in July 2023 to 11.7 percent in August this year. This was equivalent to 1.4 million fewer underemployed persons, particularly among those employed in the services and industry sectors.
Underemployed persons are those who have expressed the desire to have additional hours of work in their present job or to have an additional job, or to have a new job with longer hours of work.
The number of employed persons aged 15 years and over in August 2023 increased to 48.07 million from 47.87 million a year earlier. This translated into 95.6 percent employment rate, higher than the reported employment rate in August 2022 and July 2023 at 94.7 percent and 95.2 percent, respectively.
Total employment increased 203,000 in the agriculture and industry sectors.
Mapa said the labor force participation rate (LFPR) in August reached 64.7 percent, lower than 66.1 percent a year ago, but higher than 60.1 percent in July 2023.
NEDA underscored the Marcos administration’s commitment to generating high-quality and high-paying job opportunities for workers.
NEDA said that apart from the decline in underemployment, several other indicators pointed to an accompanying increase in the quality of employment, including the increase in wage and salary, and full-time employment, and the decline in vulnerable and part-time employment.
“However, much remains to be done as the number of middle- and high-skilled occupations decreased (-354,000), while low-skilled occupations increased (+551,000) compared to the previous year,” NEDA said.
NEDA Secretary Arsenio Balisacan said the government would continue its efforts to create better job opportunities for workers in the country.
“To raise the quality of employment further, the Marcos administration is committed to exerting all efforts to shape an attractive business climate for investors who have the resources needed to bring in high-quality and high-paying jobs,” he said.
Let me end this piece by asking you readers: What is your reaction to this recent development? Were there many people in your local community who were fortunate to get a new job over the past twelve months?
In a new attempt to provide jobs in the Philippines and boost the economy, President Ferdinand “Bongbong” Marcos, Jr., recently signed into law the Trabaho Para sa Bayan Act, according to a news article by the Philippine News Agency (PNA).
To put things in perspective, posted below is an excerpt from the PNA news report. Some parts in boldface…
The passage of the Trabaho Para sa Bayan Act will help the government achieve the goal of the Philippine Development Plan to provide more jobs to Filipinos, the National Economic and Development Authority (NEDA) said Wednesday.
President Ferdinand R. Marcos Jr. signed on Wednesday the Trabaho Para sa Bayan Act which seeks to, among others, address the challenges in the labor market.
“We support the Trabaho Para sa Bayan Act as it contributes to the Philippine Development Plan 2023-2028, which aims to increase employability, expand access to employment opportunities and achieve shared labor market governance,” NEDA Secretary Arsenio Balisacan said in a statement.
The law mandates the formulation of the Trabaho Para sa Bayan Plan (TPB) to address unemployment, underemployment, the informality of working arrangements, the reintegration of Overseas Filipino Workers and other challenges in the labor market.
It will also focus on improving the employability and competitiveness of Filipino workers through upskilling and reskilling initiatives and will provide support for micro, small and medium enterprises, and industry stakeholders.
The TPB Inter-Agency Council, chaired by the NEDA Secretary, will conduct a comprehensive analysis of the employment situation and labor market in the country.
The Council will also ensure the effective use of resources, harmonizing and complementing all governmental efforts and assisting local government units in planning, devising and implementing employment generation and recovery plans and programs within their respective localities.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Trabaho Para sa Bayan Act will create positive results over the next few years if it succeeds? Do you think that more could be done to help local job hunters find opportunities and get employed soon?
In the City of Las Piñas, a special program was recently launched to provide employment to local workers who were displaced by the pandemic, according to a Manila Bulletin news report.
To put things in perspective, posted below is the excerpt from the Manila Bulletin report. Some parts in boldface…
The Las Piñas Public Employment Service Office (PESO) conducted house interviews as part of its weekly employment facilitation program called “Hired on the Spot” on Monday, Nov. 14.
Mayor Imelda Aguilar said the “Hired on the Spot” program is being conducted by PESO, in coordination with the Department of Labor and Employment (DOLE), with the goal of ensuring prompt and efficient delivery of employment facilitation services.
Aguilar said the program also aims to provide employment to workers displaced by the pandemic, particularly to Las Piñas residents.
She said over 150 applicants send their resume daily to PESO and around 40 percent of the applicants get hired on the spot.
The mayor said that in addition to PESO house interviews, booths are also set-up in the city’s different barangays and partner establishments.
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? Did you notice if the number of members of your local community remained unemployed? Do you consider unemployment a major problem in your city right now?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
To put things in perspective, posted below is the excerpt from the PNA news article. Some parts in boldface…
The Philippine economy grew at a faster rate in the third quarter of the year at 7.6 percent, higher than the revised gross domestic product (GDP) growth in the second quarter at 7.5 percent, the Philippine Statistics Authority (PSA) reported Thursday.
In a press conference, PSA Undersecretary Dennis Mapa said this is the sixth consecutive quarter that the economy recorded expansion.
The country’s GDP growth from July to September 2022 is also higher than the 7-percent increase in the same period in 2021.
“The third quarter’s GDP exceeded the median analyst forecast of 6.3 percent,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.
Balisacan said the average GDP growth for the first nine months of the year stood at 7.7 percent.
“With this, we are on track to achieving the government’s growth target of 6.5 to 7.5 percent for 2022. Given the latest GDP outturn, our economy needs to grow by 3.3 to 6.9 percent in the fourth quarter,” he said.
The PSA reported that all major industries improved their performance in the third quarter of 2022 compared to the same period last year, with agriculture, forestry and fishing growing by 2.2 percent; industry, rose to 5.8 percent; and services, up by 9.1 percent.
Services contributed 5.8 percentage points to the 7.6 percent GDP growth in the third quarter, followed by industry which shared 1.6 percentage points, and agriculture, forestry and fishing at 0.2 percentage points.
By industry, wholesale and retail trade, repair of motor vehicles and motorcycles contributed 1.9 percentage points to the GDP growth in July to September period, followed by financial and insurance services at 0.77 percentage points and construction at 0.76 percentage points.
Compared to last year, the sector of accommodation and food service activities expanded by 40.6 percent, which is the largest across industries. Transportation and storage also improved by 24.3 percent and construction increased by 12.2 percent.
“This economic performance largely benefitted from the further easing of mobility, including the resumption of face-to-face classes, which boosted consumption among Filipinos,” Balisacan said.
The NEDA chief added that the relaxation of borders and simplifying travel protocols supported the recovery and growth of local tourism and other sectors.
In terms of spending, household final consumption expenditure is the largest contributor to GDP in the previous quarter at 5.9 percentage points, exceeding the share of construction at 1.5 percent percentage points, durable equipment at 0.7 percentage points, and government final consumption expenditure at 0.1 percentage points.
“We would like to invite at the very least, for you, to have a look at the opportunities that are available. And finally I suppose at some point, since we are not so far away, to come and we will explain to you exactly what we have done and why we have done it and where we have arrived in that process of transforming the economy,” Marcos told business leaders during a roundtable meeting.
“I do not talk about recovery of the economy, I talk about transformation of the economy because the new economy is going to be different from everything that we did in 2019. And so this is what we are looking forward to and I hope to see you all in the Philippines soon,” he added.
Let me end this piece by asking you readers: What is your reaction to this recent announcement about the state of the Philippine economy? Do you look forward to a more prosperous year in 2023? Are you planning to open a new business soon? If you are an investor, are you confident about investing in the stock market and in companies?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Disclaimer: This is my original work with details sourced from reading the comic book and doing personal research. Anyone who wants to use this article, in part or in whole, needs to secure first my permission and agree to cite me as the source and author. Let it be known that any unauthorized use of this article will constrain the author to pursue the remedies under R.A. No. 8293, the Revised Penal Code, and/or all applicable legal actions under the laws of the Philippines.
Welcome back superhero enthusiasts, 1980s culture enthusiasts and comic book collectors! Today we go back to the year 1983 which saw the theatrical release of Superman III that featured the late Christopher Reeve as the cinematic Man of Steel.
The 1980s was a very different time with regards to Hollywood’s handling of superhero movies. The concept of a shared cinematic universe was decades away from realization. Warner Bros. back then relied on the Salkind family to produce Superman movies and the first flick in 1978 proved to be a major hit for both viewers and critics while also establishing Christopher Reeve as the definitive live-action Superman for countless people. Unsurprisingly, a sequel was released in the early 1980s which continued box office success for the stakeholders and only led to the approval of another sequel.
Along the way, the late Richard Pryor (a major comedian already) appeared on TV and talked about Superman II which eventually led to him getting hired for Superman III. The movie was released in 1983 making a little over $80 million worldwide while also getting a noticeably weaker reception from critics. More notably, Richard Pryor had a huge chunk of the film’s spotlight as Gus Gorman while the overshadowed Christopher Reeve managed to stretch his cinematic art on playing Clark Kent and Superman (note: there is also the memorable Clark versus Superman battle). Superman III very clearly had a lot more comedy in its presentation. As part of the movie’s marketing, an official comic book adaptation by DC Comics was published.
With those details laid down, here is a look back at the Superman III comic book adaptation, published by DC Comics in 1983 with a story written by Cary Bates and art made by the late Curt Swan and Sal Amendola.
The cover.
Early story
The story begins inside the unemployment bureau of Metropolis. There, August “Gus” Gorman was told after 36 weeks of chronic unemployment, he is no longer eligible for financial assistance (read: welfare) from the city. As he was about to light his cigarette, he noticed computer job ad on the match. Gorman proceeds to the Archibald Data Processing School where he gets enrolled with several others. In front of others, Gorman does something on a computer which impressed the instructor a lot.
Over at the Daily Planet, Clark Kent/Superman, Lois Lane and Jimmy Olsen meet with Perry White at his office. Kent will be returning home to Smallville and make a news story out of it. White gives Kent his approval and then tells Lois she deserves a vacation.
Hours later, Kent and Jimmy Olsen ride the bus together going to Smallville but their ride stops as a result of a huge fire damaging a large chemical plant. A police officer reveals to Olsen that the scientists inside are worried about the plant and its stuff getting destroyed by the fire.
Kent carefully leaves the bus and discreetly changes into Superman to help solve the problem. Olsen, meanwhile, sneaks past the authorities to get to the burning chemical plant.
Over at Webcoe Industries, company head Ross Webster and his sister Vera learn that more than $85,000 worth of company funds was stolen by someone within. Just outside the office, Gus Gorman enters his fancy looking sports car which Webster, Vera and Lorelei notice. Webster asked how could one of their computer technicians afford such a vehicle worth $75,000…
Quality
This is a creative way the comic book team used to dramatize Gus Gorman scene revealing and acting the bad news to his boss Ross Webster whose plans were thwarted by Superman.
While it is understandable that not all scenes and not all character moments from the movie made it on print media, this comic book still managed to capture the film’s essence for the most part. The creative team pulled off their own interpretations of the events and made something entertaining and engaging even though they had to deal with the major challenge of summarizing the movie’s plot and establishing a workable comic book narrative.
I should state that the comic team creatively avoided making in-depth references about liquor and smoking which were obvious in the movie. You will not see Superman drinking liquor at a bar nor will you see Gus Gorman referring to tar listed on a cigarette pack. I suppose this was done to ensure the comic book would be released widely and be acceptable to very young readers and the parents watching them.
The battle between evil Superman and Clark Kent is best viewed in the movie. This one is a shorter and less detailed version of it.
When it comes to establishing the clear lead among all the characters featured, Superman fans should be delighted to know that the Man of Steel is indeed more prominent than Gus Gorman. Take note that in the movie, Richard Pryor’s Gus Gorman overshadowed Christopher Reeve’s Superman/Clark.
Remember the frightening sequence of Vera getting captured and turned into a cybernetic figure by the Super Computer? This is what it looks like in comic book format.
The art done by Curt Swan and Sal Amendola is decent and it seems to me that their time on visualizing Cary Bates’ script was indeed limited. That being said, it was not surprising to me that, with the exception of Ross Webster in one specific image, none of the characters resembled their cinematic counterparts. Clark Kent/Superman never resembled Christopher Reeve, and Gus Gorman looks nothing like Richard Pryor. Clearly, the artists’ focus was visualizing the narrative which they succeeded.
Conclusion
Clark Kent, Lois Lane, Jimmy Olsen and Perry White in the Daily Planet.
Superman saving Lana Lang’s son from certain death.
Having seen the Christopher Reeve/Richard Pryor movie in the cinema and on cable TV since 1983, I can say that Superman III (1983) is a decent adaptation. It’s not 100% faithful but it is still a worthy read as it will give you the movie’s concept and entertainment values in literary form. If you really want to full essence of film along with the cinematic moments (note: the Superman-Clark battle is the cinematic highlight) all intact, then your obvious choice is to watch the movie. If you are turned off by the movie’s wacky comedy, then the comic book adaptation will deliver to you the more serious approach on telling Superman III’s story. Let me repeat that Superman is more prominent than Gus Gorman in this comic book.
It’s been two days since cinemas around Metro Manila officially reopened which is a welcome move not because I personally want to watch movies on the big screen inside the theater but because the local cinema industry will contribute to the economic recovery of our nation from this ongoing COVID-19 crisis. That being said, I urge you readers – who got fully vaccinated locally – who love watching movies to take time out to support the local cinema operators and their employees by visiting their venues, buying tickets over the counter and watch movies on the big screen while following the local health protocols (note: local cinemas have invested a lot in making their venues safe and sanitized).
Be reminded that streaming will NEVER match the grandeur and immersion of the cinema! The cinema is always better than streaming. Movie venue choices aside, local moviegoers now have the opportunities to watch A Quiet Place Part II and the big blockbuster Dune (2021).
Going back to the topic of economic recovery, there is no doubt that the COVID-19 crisis combined with all the restrictions imposed by the local, regional and nation authorities brought down the national economy in 2020 along with all the economic sectors and the employees. All of these also translate into a major loss of tax revenue for the local governments, provincial governments and the national government.
In the case of the local cinema industry, the shutdown of cinemas since the pandemic started in March 2020 resulted a huge, collective industry loss of revenue according to a BusinessWorld report. I’m talking about many BILLIONS of Pesos lost!
To put things in perspective, posted below is an excerpt of the BusinessWorld report. Some parts in boldface…
The cinema industry had P19 billion in foregone revenue from March 2020 to September this year, Film Development Council of the Philippines (FDCP) Chairperson Mary Liza Diño-Seguerra said in a Teams video interview.
The loss had ballooned to P21 billion as of Oct. 11, Charmaine N. Bauzon, president of Cinema Exhibitors Association of the Philippines, told PTV News.
Local government units, which charge 10% amusement tax per movie ticket, lost P1.09 million daily from the country’s more than a thousand movie screens, according to estimates by the National Tax Research Center.
“We earned P11.5 billion yearly from the box office [before the pandemic],” Ms. Seguerra said. “We sold about 52 million tickets each year.”
Cinema operators get 50% of ticket sales, while the other half goes to producers, who then give as much as a quarter to the distributor, who’s in charge of marketing and distributing the film to the public.
Last year, cinemas in areas under a more relaxed quarantine made a measly P327,000, Ms. Seguerra said.
Take note that before the pandemic started, the local cinema industry as a whole had a work force of 300,000 employees and those who lost their jobs and income really suffered. In the City of San Juan, the Manila Bulletin reported about the reopening of local cinemas there with Mayor Francis Zamora issuing statements and leading the inspection on the venues. Posted below is an excerpt from the Manila Bulletin article.
San Juan City Mayor Francis Zamora led the inspection of cinemas in the city starting with the Greenhills Promenade Cinema.
Zamora inspected the health and safety protocols of the cinema such as the disinfection process of the establishment and the procedure of buying the tickets, which can be done before entry to the cinema or online, new seating arrangements with strict physical distancing, and the guidelines of actual movie viewing under the new normal.
“I know how Filipinos miss watching movies in silver screens which have been shut down for almost two years due to the pandemic, but now the long wait is over. With the approval of the IATF, we are allowing the opening of our cinemas in the city, provided that we take extra care and observe stringent protocols as we are still facing threats of COVID-19 despite the easing of restrictions to Alert Level 2,” Zamora said.
“I want to personally make sure that our cinemas in San Juan will be safe for all of us, not only for the moviegoers but for the employees of these establishments as well,” he added.
During Alert Level 2, the operational capacity of several businesses has been increased to accommodate more customers. It has also eased down quarantine restrictions in various indoor establishments and recreational venues including movie houses and cinemas.
Under the Inter Agency Task Force (IATF) guidelines, cinemas can accommodate up to 50 percent of its maximum venue capacity, but only those who are fully vaccinated will be allowed entry into the cinemas.
For added insight, posted below are two news videos for your viewing…
Once I again, I urge you readers based in Metro Manila and in nearby provinces who got fully vaccinated to come out to support our local cinema operators and make a contribution to economic recovery as you enjoy watching on the big screen again.
Let me end this piece by asking you readers: Now that cinemas within Metro Manila have reopened, are you planning to revisit them and watch movies on the big screens anytime soon? Does Dune (2021) interest you a lot? When was the last time you saw a movie inside the movie theater? Do you realize that as a paying customer, what you pay helps not only movie producers and cinema operators but also their employees and the varied government units (that collect amusement taxes)?
Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Author Carlo Carrasco 