There is an increase number of unemployed ‘cause of businesses closing



According to Department of Labor and Employment (DOLE), there is an increasing number of unemployed because of a lot of companies that are closing down.

As per data given by Bureau of Labor and Employment Statistics (BLES), a total of 36,639 lose their jobs because of 1,925 businesses closed down in 2013. And, the highest number of displaced workers are coming from Metro Manila when those 1,925 businesses closed, 17,144 workers were affected in 2013.

The reason behind companies downsizing or closing down their businesses is due to financial losses and lack of market. It is still expected that the number of displaced workers will still increase on those areas hit my calamities last year.