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MANILA, Philippines — The number of unemployed Filipinos dropped to 1.63 million in December from 1.66 million in November, as more people found jobs during the holiday season. This lowered the unemployment rate from 3.2% to 3.1%,…
MANILA, Philippines — The Philippine economy grew by an average of 5.6% in 2024, slightly higher than the 5.5% growth in 2023. However, it still fell short of the government’s target of 6% to 6.5%. The average…
The country’s gross domestic product (GDP), which measures the total value of goods and services produced, likely grew by 5.8% in the fourth quarter, based on the median forecast of 12 economists surveyed by the Inquirer. Economic…
Filipinos now prefer digital payments over ATM withdrawals, with InstaPay fund transfers surpassing ATM transactions in both value and volume after the pandemic. According to the Bangko Sentral ng Pilipinas (BSP), InstaPay transactions in September 2024 reached…
Remittances or money sent home by Filipinos working abroad dropped to a six-month low in November 2024, as the weak peso helped them save on transfer costs. According to the Bangko Sentral ng Pilipinas (BSP), cash remittances…
MANILA, Philippines — The International Monetary Fund (IMF) reported that nearly 4 in 10 jobs in the Philippines are highly affected by artificial intelligence (AI). According to a December 20 report, about 36 percent of jobs in…
MANILA, Philippines — Political instability from the ongoing feud between President Marcos and Vice President Sara Duterte could pose a major economic risk, especially if it results in poor outcomes in the 2025 midterm elections and disrupts…
S&P Global Ratings improved its credit outlook for the Philippine government to “positive,” citing better institutional and policy settings. This opens the possibility of upgrading to the prestigious “A” rating. Although the Philippines retained its “BBB+” investment…
Despite ongoing geopolitical tensions, Taiwan continues to attract Filipino tourists. Its charm lies in efforts to revamp its tourism industry, drawing more Southeast Asian visitors. Tourist numbers are now approaching pre-pandemic levels. Latest data from the…
MANILA, Philippines — The Philippine peso dropped on Wednesday close to a few centavos away from a record level of 59. It is, however, its lowest level in over two years as the Philippine peso was overpowered…
Remittances to the Philippines and income from the business process outsourcing (BPO) sector may be affected by U.S. President-elect Donald Trump’s strict immigration policies. Meanwhile, reduced security support from Washington could heighten tensions in the West Philippine…
Multinational firms’ lending to their Philippine subsidiaries drove foreign direct investments (FDIs) to a five-month high in July, reaching halfway through the Bangko Sentral ng Pilipinas’ (BSP) 2024 projection. According to the BSP’s report, July saw a…
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