SUPPLY chain disruptions prompted over a million Filipinos to opt out of the labor force, according to the National Economic and Development Authority .
“Fewer Filipinos participated in the labor force due to supply chain disruptions brought about by the Russia-Ukraine conflict and seasonal factors in agriculture, among others,” Neda said in a statement. “Higher oil prices and seasonal factors have impacted workers in the transport and agriculture sectors, respectively, and hindered some from going to work. To address this, the government will urgently distribute targeted subsidies to the hardest-hit sectors to cushion higher prices,” Socioeconomic Planning Secretary Karl Kendrick T. Chua said.
Meanwhile, Chua said the P1.1 billion will be distributed as fuel discounts to farmers and fisherfolk. Despite external risks, overall employment remains at 3.1 million above the pre-pandemic level as around 80 percent of the economy has been placed under Alert Level 1.