POEA recently announced that at least 2,500 Filipino workers have lost their jobs in Taiwan due to the global economic crisis. This unfortunate news came to some Filipinos as the year turned over to 2009 - some actually reported coming home without anything except the clothes on their backs.
Government further states that the number will still continue to rise in the coming months as more and more factories are planning to cut on spending in response to the slow turnover of goods.
Although to most of us here this poses no relevance in our daily lives. But please take a moment to ponder the sheer human drama that happens to the families of these unfortunate individuals which will be derailed.
There are around 8 million OFWs out there, with families depending on their dollar remittances for their stipends, just imagine if even 1/8Th of this number becomes victims to the economic contraction - that's a translated 2.3 million dollars lost in remittances. This means that inflation, and other economic indicators might suffer in the same proportion.
Amidst the US economy sinking further into economic debt, government is confident that they are prepared to help those who will be displaced from the crisis - the important question here is, how are they planning to help?
Well for me. I'm not going to be that much optimistic on this promise.
I mean, between the sensationalized Alabang Boys bribery scandal, and Pacquiao's promise fight with Ricky Hatton, Ate Glo's government appears to have their hands full at the moment.
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