Resignation and other “non-economic” factors were the most cited causes for the permanent displacement of workers this year, according to the latest report of the Department of Labor and Employment.
RESIGNATION and other “non-economic” factors were the most cited causes for the permanent displacement of workers this year, according to the latest report of the Department of Labor and Employment.
Retrenchment to prevent losses was cited as the main economic reason for permanent displacement after it affected 26,684 workers. It was followed by redundancy , and financial losses . This was consistent with the data from the Labor Force Survey of the Philippine Statistics Authority , which showed the unemployment rate dropping to 4.5 percent–the lowest in 17 years—in November.
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