"Unemployment data from the January 2009 Labor Force Survey confirms the country’s descent into greater joblessness due to the global crisis and accumulated domestic economic weaknesses. The figures however are a gross underestimation of joblessness in the country, which is likely to have already reached at least a massive 4.3 million, said research group IBON Foundation.
The officially-released figures already show an increase of 180,000 jobless Filipinos, which is reported to have reached 2.9 million in the latest labor force survey. However, the real unemployment rate is not 7.7% as officially reported but likely to be at least 11.2 percent. Combined with the 6.2 million unemployed means that there were at least 10.6 million Filipinos jobless or otherwise looking for more work and pay in January 2009..."
"Unemployment Figures Wrong; Number of Jobless Higher". (2009, March 24). Pinoy Press. Retrieved March 30, 2009 from http://www.pinoypress.net/2009/03/24/unemployment-figures-wrong-number-of-jobless-higher-says-ibon/
The numbers are staggering. Millions of people are without work and are struggling to make ends meet as the financial/economic crisis deeply sink in. Join me in prayer for the unemployed as they search for jobs and find ways to support themselves and their families. Pray that they find strength in the Lord, the gracious Provider, and believe that He cares.
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