Latest news with #PhilippineStatisticsAuthority
GMA Network
3 days ago
- Business
- GMA Network
PH waiting for US decision on tariffs
The Philippines is awaiting the United States' decision on its plea for the latter to lower the tariff rates on Philippine goods. In an interview with reporters on Wednesday, Trade Secretary Ma. Cristina Roque said that there would be 'really no second round (dialogue) for us.' Last month, Roque, along with Economic Affairs Adviser Frederick Go and Philippine Ambassador to the United States Jose Manuel Romualdez, met with US Trade Representative Jamieson Greer and tackled 'mutually beneficial ways to strengthen the bilateral relations' amid the 17% tariff rate imposed by the US. The trade dialogue was held within the 90-day suspension of US President Donald Trump's reciprocal tariff policy. The suspension will expire on July 8. 'Everything is a wait-and-see until they put it out… But we don't know what the outcome will be when they give us the verdict,' Roque said. The Department of Trade and Industry chief, however, expressed confidence that the US will give a favorable decision on the Philippines' tariff plea, 'which is lower than 17%.' Trump had earlier expressed willingness to extend the suspension of his reciprocal tariff policy for countries with ongoing trade talks with the US. 'Actually, I've heard that also, and that was what was told to us also, that there might be an extension. But, again, there's no [confirmation] yet,' Roque said. 'For now, the tariff is at 10%, which is lower than 17%. So, even with the extension, I feel we should be okay. Yeah, favorable for us because 10%. But, of course, if we really get the tariff lower than 10%, why not? But, again, everything is under negotiation,' she said. Trump in April announced a sweeping reciprocal tariff policy on its trading partners, including the Philippines, which would be facing a 17% tariff on its exports to the US. Although it is the lowest among its Southeast Asian peers, still the Philippine government sent a delegation to Washington to seek dialogue with US officials. Trump had argued that the trading relationship between the US and its trading partners has become 'highly unbalanced,' thus the higher tariffs would be targeted on countries that have significant trade imbalances with America. In other words, the US leader is trying to level the playing field for American industries by 'reciprocating' what other states are charging them for the goods they are selling in their countries. Data from the USTR showed that the US goods trade deficit with the Philippines stood at $4.9 billion in 2024, up 21.8% from 2023. US total goods trade with the Philippines amounted to about $23.5 billion in 2024, with American goods exports to the Philippines amounting to $9.3 billion, up 0.4%, while goods imports totaled $14.2 billion. The US is the Philippines' top destination for its goods in 2024 at $58.7 billion, accounting for a lion's share, or 80.2%, of the top 10 nations where it exports, according to data from the Philippine Statistics Authority. —VBL, GMA Integrated News
Filipino Times
6 days ago
- Business
- Filipino Times
Taiwan extends visa-free entry for Filipinos until next year
Filipino travelers can continue to enjoy visa-free access to Taiwan for another year, following an announcement by Taiwanese Foreign Minister Lin Chia-lung during the Philippine Independence Day celebration hosted by the Manila Economic and Cultural Office in Taipei. The extension, the minister said, is part of Taiwan's efforts to foster stronger people-to-people connections and enhance overall bilateral relations with the Philippines. An official statement from Taiwan's Ministry of Foreign Affairs confirming the extension is expected to be released on Monday, June 16. In 2023, Taiwan welcomed around 415,000 Filipino tourists, according to data from the Philippine Statistics Authority. The island nation is also home to an estimated 160,000 Filipino migrant workers. The continuation of the visa-free policy is seen as a boost to tourism and cultural exchange, reaffirming the close ties between the Filipino and Taiwanese people.
GMA Network
06-06-2025
- Business
- GMA Network
Which jobs have the highest daily basic pay?
The Philippine Statistics Authority's (PSA) quarterly edition of its Labor Force Survey (LFS) for April 2025 revealed which occupations in the country are receiving the highest daily pay. Topping the list of the top major jobs in terms of daily wages were Managers, which received an average daily basic pay of P1,387, which increased from P1,356 in April 2024. The PSA describes managers as those who 'plan, direct, coordinate and evaluate the overall activities of enterprises, governments, and other organizations.' The next on the list, receiving P1,321 in average daily wage, were Armed Forces Occupations. Their average daily basic pay grew from P1,185 in the same period last year. Armed forces occupations included all jobs held by members of the armed forces, excluding those in civil defenses such as police and customs inspectors. Professionals received the third highest daily basic pay at P1,214, up from P1,206 in April 2024. Professionals are those who apply scientific or artistic concepts and theories in their task such as in the fields of sciences, social sciences, legal and social services, art, among others. Technicians and Associate Professionals came in fourth with a salary of P873 per day, up from P793 year-on-year. Technicians are those who perform technical tasks connected with application of scientific or artistic concepts, operational methods, and government or business regulations. Clerical Support Workers came in fifth with an average daily pay of P747, up from P726 in the same month in 2024. Clerical support work includes recording, organizing, storing information and performing clerical duties such as money-handling, travel arrangements, and appointments. Jobs with lowest daily wages The PSA's April 2025 LFS also bared which occupations are receiving the lowest daily basic pay in the country. These were: Elementary occupations — P428, up from P403 last year Skilled agricultural, forestry, and fishery workers — P486, up from P439 Service and sales workers — P552, up from P509 Craft and related trades workers — P581, up from P541 Plant and machine operators and assemblers — P585, up from P554 Elementary occupations involve simple routine tasks which require use of hand-held tools such as cleaning, restocking of supplies, basic maintenance, helping in the kitchen, sweeping streets, among others. Skilled agricultural workers are those who prepare soil, sow, fertilize, harvest crops; breed, raise, tend, hunt animals; catch and cultivate fish and other aquatic life; and sell produce to markets, purchasers. Service and sales workers' tasks include housekeeping, preparing and serving food and beverages, providing basic health care, posing as models for advertising, hairdressing and beauty treatments, enforcing of law, selling goods at stalls and markets. Craft and related trades are those who perform tasks applying specific knowledge and skills in constructing and maintaining buildings, making handicrafts, pottery and glass, making metal structures or welding and casting metal. Plant and machine operators and assemblers are those who operate and monitor industrial and agricultural machinery and equipment. The release of the April 2025 LFS came on the heels of the House of Representatives' approval on third and final reading of the proposed measure granting a P200-increase in the daily minimum wage for workers in the private sector. The House version of the legislated wage hike offers a higher increase than the P100 approved by the Senate. The House and the Senate will then have to reconcile the differences at the bicameral conference committee before transmitting the enrolled bill to Malacañang. Congress has until June 13, 2025 or the last session day to reconcile their differing versions of the wage hike measure and ratify the reconciled version for the bill to be ready for the President's signature. Otherwise, the measure has to be refiled in the next Congress. However, business groups Philippine Chamber of Commerce and Industry (PCCI), Employers Confederation of the Philippines (ECOP), and the Makati Business Club (MBC) have sounded the alarm on the inflationary and economic implications of the proposed legislation increasing the daily minimum wage for private sector workers in the country. Malacañang earlier said that President Ferdinand ''Bongbong'' Marcos Jr. will look into the economic implications of the proposed increase in the minimum wage for workers. —AOL, GMA Integrated News
The Star
06-06-2025
- Business
- The Star
Philippines' jobless rate rises to 4.1 per cent in April
MANILA (Xinhua): The Philippines' unemployment rate in April rose to 4.1 per cent, up from 3.9 per cent in March, the Philippine Statistics Authority (PSA) said Friday. PSA Chief Dennis Mapa told a press conference that an estimated 2.06 million Filipinos were out of work in April this year, higher than the number of unemployed people in April 2024 at 2.04 million. Despite the slight uptick in unemployment, Department of Economy, Planning, and Development officer in charge and Undersecretary for Policy and Planning Rosemarie Edillon said in a statement that the Philippine labor market continues to demonstrate resilience amid global headwinds. "We remain on track to meet our target unemployment range of 4.4 to 4.7 percent set under the Philippine Development Plan 2023-2028," she said. Meanwhile, the Philippines' gross international reserves rose slightly to US$105.5 billion at the end of May from US$105.3 billion a month earlier, the central bank said on Friday, citing preliminary data. The forex reserves represent an external liquidity buffer equivalent to 7.3 months worth of imports of goods and payments of services and primary income, which the central bank said was robust. - Xinhua
GMA Network
06-06-2025
- Business
- GMA Network
Jobless Filipinos rose to 2.06M in April 2025, says PSA
The number of Filipinos without jobs or livelihoods rose to over two million in April 2025 as more people entered the labor force, seeking jobs, during the period but only few were absorbed by the market, according to the results of the Philippine Statistics Authority's latest Labor Force Survey. At a press briefing on Friday, National Statistician Claire Dennis Mapa reported that unemployed persons, ages 15 and above, increased slightly to 2.06 million in the fourth month of the year from 1.93 million in March 2025. Year-on-year, jobless individuals climbed by 23,000 from 2.04 million in April 2024, according to the PSA chief. As a percentage of 50.74 million participants in the labor force —who are actively looking for labor opportunities during the period — the number of unemployed persons translated to an unemployment rate of 4.1%, up from 3.9% in March and 4% in April last year. 'Dumami kasi ang mga kasama sa labor force, labor force participation, so siya 'yung factor… 'pag tumataas ang labor force participation, hindi naman lahat na-absorb lahat para maging employed persons,' Mapa said. (The increase in the number of those joining the labor force was the factor… when labor force participation rises, not everyone is absorbed to become employed persons.) Labor force participants grew by 340,000 from April 2024 and by about 780,000 from March 2025's 49.96 million. Of the 340,000 year-on-year growth in labor force participation, the PSA chief said about 317,000 became employed while 23,000 were not absorbed. 'Despite the slight uptick in unemployment, the Philippine labor market continues to demonstrate resilience amid global headwinds. We remain on track to meet our target unemployment range of 4.4% to 4.7% set under the Philippine Development Plan 2023-2028,' said Department of Economy, Planning, and Development (DEPDev) officer-in-charge and Undersecretary for Policy and Planning Rosemarie Edillon. —AOL, GMA Integrated News
