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abtest
By Ni Gabby G. Malagar | March 11, 2010 - 12:00am
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The country’s unemployment rate in July rose to its highest level in over four years as more Filipinos joined the workforce, but not enough jobs were available in the market. Preliminary results of the Philippine Statistics Authority’s Labor Force Survey showed that the unemployment rate rose to six percent in July from the previous month’s 4.9 percent and 5.3 percent in the same month last year.
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The local stock market pulled off a win despite the continued depreciation of the peso and the country’s unemployment rate hitting a four-year high in July, as investors opted to capitalize on cheap valuations instead.
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The recent decision of the Department of Labor and Employment to unilaterally raise the current daily minimum wage by P85, to be implemented in two tranches of P60 initially this year and then another P25 next year through Wage Order NCR-27, has politicized the wage-setting process and is distorting the tripartite wage process.
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Starting next season, the UAAP will require the “one-and-done” players to sit out a year for residency, the league announced Tuesday.
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Lee Je-hoon is coming back to the Philippines later this year to meet with Filipino fans anew.
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