Despite financial meltdown, labor chief sees no sad Christmas for OFWs
MANILA, Philippines - While US economists are forecasting the economic meltdown to last until the end of 2009, the Philippine government assured that overseas Filipino workers (OFWs) could expect a ‘merry’ Christmas this year.
Labor chief Marianito Roque told reporters in a press briefing in Malacañang on Tuesday that the employment situation of OFWs remains stable.
At least 37 Philippine labor officers from across the globe reported to Roque that the demand for Filipino workers is constant.
“So the situation remains stable on the overseas employment front, and we do not expect any reduction in demand for overseas Filipinos especially in the Middle East," he said.
Roque earlier assured that unless the US-led global financial crisis sets foot in the Middle East , it will have little or no effect at all on the jobs of Filipinos working abroad.
According to Roque, the recently approved $700-billion cash bailout would buoy the US economy and prevent the economic crunch from worsening further.
“Mukhang kaya naman nilang kontrolin (It seems like they can take care of it)," he said.
Since a slowdown has yet to be felt in the Middle East — the top destination for OFWs — Roque explained that Filipino migrant workers have very little to fear.
OFWs are not immune to US crisis
However, senior corporate executives have warned that the Philippines should remain vigilant in preparing for a possible backlash on OFWs from the global financial crisis.
Guillermo Luz, executive vice president of the Ayala Foundation, said that while the Middle East has yet to feel the global crisis’ effects, there is no assurance that it will survive the crisis unharmed.
“They might not be affected to the same extent but they will not be immune also," Luz told GMANews.TV in an interview.
Luz, who had earlier said the OFWs’ “practical investment strategies" would shield them from the recession, warned that companies facing bankruptcy may trim down on its workers.
Massive layoffs from affected countries could hinder OFWs from sending home bigger remittances, which has been the lifeblood of Philippine economy, said Luz, who is also a member of the influential Makati Business Club.
“Some 160,000 employees from various US companies have already lost their jobs. I won’t be surprised if there are massive layoffs," Luz said.
No layoffs for OFWs
Roque also sought to quell speculations that thousands of OFWs would be sent home amid the global economic crisis.
He told GMANews.TV that the media would sometimes create fears that the recession is affecting OFWs, by interviewing one, or two Filipino workers who had been laid off, but fail to substantiate it with statistics.
During the press briefing, Roque explained that it’s just a normal trend for OFWs to return home and is not in any way related to the financial crisis.
“Perhaps it's a convenient excuse that they are using but it has no relation, it has no bearing. As of now, our employment situation overseas remains stable," he said. - GMANews.TV
Labor chief Marianito Roque told reporters in a press briefing in Malacañang on Tuesday that the employment situation of OFWs remains stable.
At least 37 Philippine labor officers from across the globe reported to Roque that the demand for Filipino workers is constant.
“So the situation remains stable on the overseas employment front, and we do not expect any reduction in demand for overseas Filipinos especially in the Middle East," he said.
Roque earlier assured that unless the US-led global financial crisis sets foot in the Middle East , it will have little or no effect at all on the jobs of Filipinos working abroad.
According to Roque, the recently approved $700-billion cash bailout would buoy the US economy and prevent the economic crunch from worsening further.
“Mukhang kaya naman nilang kontrolin (It seems like they can take care of it)," he said.
Since a slowdown has yet to be felt in the Middle East — the top destination for OFWs — Roque explained that Filipino migrant workers have very little to fear.
OFWs are not immune to US crisis
However, senior corporate executives have warned that the Philippines should remain vigilant in preparing for a possible backlash on OFWs from the global financial crisis.
Guillermo Luz, executive vice president of the Ayala Foundation, said that while the Middle East has yet to feel the global crisis’ effects, there is no assurance that it will survive the crisis unharmed.
“They might not be affected to the same extent but they will not be immune also," Luz told GMANews.TV in an interview.
Luz, who had earlier said the OFWs’ “practical investment strategies" would shield them from the recession, warned that companies facing bankruptcy may trim down on its workers.
Massive layoffs from affected countries could hinder OFWs from sending home bigger remittances, which has been the lifeblood of Philippine economy, said Luz, who is also a member of the influential Makati Business Club.
“Some 160,000 employees from various US companies have already lost their jobs. I won’t be surprised if there are massive layoffs," Luz said.
No layoffs for OFWs
Roque also sought to quell speculations that thousands of OFWs would be sent home amid the global economic crisis.
He told GMANews.TV that the media would sometimes create fears that the recession is affecting OFWs, by interviewing one, or two Filipino workers who had been laid off, but fail to substantiate it with statistics.
During the press briefing, Roque explained that it’s just a normal trend for OFWs to return home and is not in any way related to the financial crisis.
“Perhaps it's a convenient excuse that they are using but it has no relation, it has no bearing. As of now, our employment situation overseas remains stable," he said. - GMANews.TV
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