Philippine Economy Talk

**Monseratto** · July 27th, 2020 10:47 AM

7 million unemployed and many closures still on the way...can we see the D word on the horizon...??

ECOP reports 52% of businesses closing

Employers said that 52.66 percent of micro, small, and medium enterprises (MSMEs) have closed down permanently and partially due to the prolonged lockdown the Duterte administration has imposed since March this year.

In addition, the survey also showed that 12.55 percent of MSMEs have limited operation while 34.79 percent have managed to continue their operations as of end April.

Aside from local employment, Lacson said that thousands of overseas Filipino workers are awaiting repatriation. “It will swell unemployment figure,” he warned. “The Philippine economy is consumption driven and the fear of COVID-19 instilled in them will depress demand again leading to production cutback, loss of jobs and economic hardship,” he said.

The survey also showed that 17.7 percent or about 8 million workers have been rendered jobless.

**uls** · July 27th, 2020 11:30 AM

Originally Posted by Monseratto

7 million unemployed and many closures still on the way...can we see the D word on the horizon...??

ECOP reports 52% of businesses closing

depression

i got another d word -- dystopia

**Lin Dan** · July 27th, 2020 01:38 PM

Kaya pala massive retrenchment sa BDO

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**uls** · July 27th, 2020 01:54 PM

madami di makabayad ng utang

**Lin Dan** · July 27th, 2020 01:55 PM

Originally Posted by uls

madami di makabayad ng utang

Yes bad debts or delinquent loans

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**uls** · July 27th, 2020 02:00 PM

kaya April palang i was concerned about the financial system

**shadow** · July 27th, 2020 02:29 PM

Ano kaya ang marami bad debts sa mga banks ngayon? Car? Housing? Or sa mga big business dahil humihingi restructuring?

dami talaga in a bad situation because of this pandemic.

Before this ang kayang kaya mga loans then biglang dumating ito. For cars. I think one can easily give it up pero paano pag bahay?

Tapos paano pag dual income then biglang naging single income household na lang?

Then with all the bills knocking on the door. Paano? Can't imagine what a lot of people are going through right now.
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**shadow** · July 27th, 2020 02:41 PM

Paano makaka generate ng jobs para sa mga nawalan ng trabaho? Sino ba mga nawalang karamihan mga rank and file sa Office?

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**uls** · July 27th, 2020 02:46 PM

i guess all kinds of loans... from business loans to consumer loans

ito Philippine Chamber of Commerce

**uls** · July 27th, 2020 02:58 PM

Originally Posted by shadow

Paano makaka generate ng jobs para sa mga nawalan ng trabaho? Sino ba mga nawalang karamihan mga rank and file sa Office?

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noong ECQ automatic walang sweldo mga no work no pay

ung transition from EQC to GCQ di lahat na-hire back

madami naging permanent ang job loss specially mga business not allowed to open kahit GCQ

kahit mga business na allowed to open hindi full workforce... 50% lang tapos reduced hours

wala... survival talaga priority for 2020

physical and financial survival