DOLE reports steady global OFW deployment: More than half a million OFWs globally deployed, remittances hit US$5.4 billion

The Department of Labor and Employment (DOLE) today reported that more than half a million documented overseas Filipino workers (OFWs) have been deployed globally in more than 190 host destinations worldwide during the first five months of 2008.

At the same time, Labor and Employment Secretary Marianito D. Roque cited a report of the Bangko Sentral ng Pilipinas (BSP) that global OFW remittances have reached US$5.4 billion (more than P240.89 billion at current rates) during the first four months, or from January to April this year.

The Labor Chief said that the continued growth and strength of global OFW deployment reflect the distinct global preference for Filipino workers.

He added that the strength of global OFW deployment significantly figures in the substantial rise in global OFW remittances, which are projected to approach, if not surpass, the US$15 billion mark by end 2008.

Roque, in particular, cited the BSP's report that the growth in the number of deployed OFWs reinforced remittance flows, alongside the "upbeat prospects" in the global market for sustained OFW opportunities.

The BSP report mentioned that the number of OFWs globally deployed grew by 14.0 percent from 350,520 in the same period last year to 399,638 during the first four months this year. The BSP noted that the prospects for global OFW deployment remain upbeat due to the Philippines' efficient deployment system, reinforced by the country's continuing bilateral cooperation for OFW employment opportunities with emerging markets like Canada and other host countries.

The Philippines, the same report said, had also been singled as the "Best Practice Country" by the Human Resources Development Service of Korea (HRD Korea) due to the efficiency of the OFW deployment system and the process improvements.

Roque said that in the first five months of 2008 alone, the country has already attained more than half a million of the total annual goal to globally deploy a million OFWs in more than 190 host countries around the world.

Roque cited the latest preliminary report of the DOLE's Philippine Overseas Employment Administration (POEA) that some 516,466 documented OFWs have been globally deployed from January to May this year, boosted by an 8.6% increment in new hires from 142,618 in the same period last year, to 154,841 from January to May this year.

"The 516,466 OFWs deployed from January to May 2008 represents a substantial growth of 12.4% (+57,052), from the total 459,414 OFWs deployed in the same period in 2007," he noted.

Roque added that the number of OFWs deployed during the first five months of the year alone, now represents some 51.6%, or more than half, of the total goal to deploy one million documented OFWs worldwide in 2008.

Source: Information and Publication Service

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