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    Term Paper #1, Llanera, Jafet

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    Jafet Llanera
    The Covid-19 pandemic severely harmed the Philippine economy by forcing widespread lockdowns that closed businesses and increased unemployment. The unemployment rate rose to 10% in 2020 but fell to 6.9% in 2021 as the economy recovered. However, the pandemic still negatively impacted many Filipinos' livelihoods. To further economic recovery, the document recommends that the Philippine government reopen tourist sites and businesses, lower job requirements, expand job training programs, and welcome foreign investors like the United States to increase jobs and investment. Achieving this will require continued vaccination efforts and health protocols to prevent virus spread so life can return to normal.

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    Term Paper #1, Llanera, Jafet

    Uploaded by

    Jafet Llanera
    48 views3 pages
    The Covid-19 pandemic severely harmed the Philippine economy by forcing widespread lockdowns that closed businesses and increased unemployment. The unemployment rate rose to 10% in 2020 but fell to 6.9% in 2021 as the economy recovered. However, the pandemic still negatively impacted many Filipinos' livelihoods. To further economic recovery, the document recommends that the Philippine government reopen tourist sites and businesses, lower job requirements, expand job training programs, and welcome foreign investors like the United States to increase jobs and investment. Achieving this will require continued vaccination efforts and health protocols to prevent virus spread so life can return to normal.

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    Contemporary World Term Paper

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    The Covid-19 pandemic severely harmed the Philippine economy by forcing widespread lockdowns that closed businesses and increased unemployment. The unemployment rate rose to 10% in 2020 but fell to 6.9% in 2021 as the economy recovered. However, the pandemic still negatively impacted many Filipinos' livelihoods. To further economic recovery, the document recommends that the Philippine government reopen tourist sites and businesses, lower job requirements, expand job training programs, and welcome foreign investors like the United States to increase jobs and investment. Achieving this will require continued vaccination efforts and health protocols to prevent virus spread so life can return to normal.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    48 views3 pages

    Term Paper #1, Llanera, Jafet

    Uploaded by

    Jafet Llanera
    The Covid-19 pandemic severely harmed the Philippine economy by forcing widespread lockdowns that closed businesses and increased unemployment. The unemployment rate rose to 10% in 2020 but fell to 6.9% in 2021 as the economy recovered. However, the pandemic still negatively impacted many Filipinos' livelihoods. To further economic recovery, the document recommends that the Philippine government reopen tourist sites and businesses, lower job requirements, expand job training programs, and welcome foreign investors like the United States to increase jobs and investment. Achieving this will require continued vaccination efforts and health protocols to prevent virus spread so life can return to normal.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    GLOBAL POLITICS & CONTEMPORARY GLOBAL GOVERNANCE

    Llanera, Jafet B. The Contemporary World


    BSME 1-3 October 28, 2021
    Term Paper
    Covid 19 - the global challenge astounded everyone around the globe. Its
    massive influence has been and continues to be a source of concern for each of us
    on a daily basis. The life we are accustomed to is now diametrically opposed to what
    we are used to. Person-to-person lessons were canceled, the unemployment rate
    rose, and our economy plummeted in a flash. The Philippine government promptly
    announced a statewide lockdown due to the threat of covid-19 to public health. As a
    result, a surge in the number of unemployed Filipino nationals during the lockdown
    has become one of the country's current economic issues.
    The Philippine economy was one of the most severely harmed by the
    pandemic, because of the required efforts that the country had to take. They put the
    country on lockdown and closed large facilities to prevent the virus from spreading,
    forcing every Filipino family to stay in their homes and lose income for the time being.
    As a result, the country's economy has suffered a significant decrease, and the
    unemployment rate has risen. According to the Philippine Statistics Authority (2021),
    as the Philippines' economy recovered from the COVID-19 recession, the
    unemployment rate fell drastically to 6.9% in the September quarter of 2021, down
    from 10% a year earlier. Unemployed people fell by 1.49 thousand to 3.07 million,
    while employed people increased by 3.65 thousand to 41.67 million. In the meantime,
    the labor force participation rate dropped to 59.8 percent in the third quarter, down
    from 61.9 percent the previous quarter. Workers in the services sector accounted for
    50.7 percent of all employed people, followed by those in agriculture (28.3%), and
    industry (27.3%). (20.9 percent).1 We can see how much the pandemic have caused
    us in the last few months by looking at these numbers. However, thanks to
    immunizations, we now have protection against Covid-19. By this, I recommend that
    the government open some of its tourist attractions and allow some of the businesses
    to reopen and prioritize its former employees, as this will benefit a large number of
    people, particularly those who rely on it. But, first and foremost, the government
    should implement a policy that changes the qualities that must be met in order for
    people to be hired. Because one of the issues in the Philippines is that you must
    have prior experience before you can work, recent graduates find it difficult to get a
    job. As a result, the government can pass legislation urging that employers'
    qualifications be lowered so that more individuals can be hired. Second, the
    government might reallocate some funds to job training programs like TESDA, which
    provides work chances to those without a college diploma.
    Last but not the least, re-accept some foreign investors who will generate
    work possibilities for the Filipinos. One of the country that will provide assistance
    regarding this issue is the United States of America. According to Statista Research
    Department (2021), in 2020, the leading foreign investor in the Philippines was the
    United States, with investments amounting to approximately 35.4 billion Philippine
    pesos. This was followed by China with total investments amounting to nearly 16
    billion Philippine pesos.2 As a result, with the support of the aforementioned foreign
    1
    Philippine Statistics Authority - https://psa.gov.ph/content/unemployment-rate-august-2021-estimated-81-
    percent#:~:text=Unemployment%20Rate%20in%20August%202021,8.1%20Percent%20%7C%20Philippine%20
    Statistics%20Authority
    2
    Statista Research Department (September 10, 2021) - https://www.statista.com/aboutus/our-research-
    commitment
    investors, the Philippines will be able to recover from its current condition. Because it
    will increase job prospects and reclaim what Covid-19 has taken away from us.
    However, in order for us to achieve this, we must actively participate in the
    government's projects and processes. And we can achieve this by vaccinating
    people and following health regulations to prevent the virus from spreading, so that
    we could resume our lives as they were before the pandemic.
    References
    Philippine Statistics Authority (2021) from https://psa.gov.ph/content/unemployment-
    rate-august-2021-estimated- 81-
    percent#:~:text=Unemployment%20Rate%20in%20August%202021,8.1%20
    Percent%20%7C%20Philip pine%20Statistics%20Authority
    Statista Research Department (September 10, 2021) retrieved from

    https://www.statista.com/aboutus/our-research-commitment

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