LABOR MARKET scarring due to the pandemic will require the Philippines to roll out training programs and improve social protections in order not to worsen the gap between employee skills and workplace expectations, the ADB said in a report. READ:
The ADB in its Southeast Asia: Rising from the Pandemic report launched Wednesday said the coronavirus disease 2019 pandemic disproportionately affected young people in the Philippines.
“This divergence will increase skills mismatches as workers do not transition easily between sectors given differences in required skills. Companies have also been rapidly adopting digital technology in their business models, further raising demand for higher value-added skills,” the ADB said. The International Labour Organization in January said Philippine unemployment could hit 1.1 million in 2022, or 10% higher than pre-pandemic levels.
“While job losses have occurred across most sectors, the hardest-hit sectors are those dependent on personal contact, such as accommodation, food services, transportation, and recreational services,” the ADB report said.
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