Remittances rose further, albeit at a slower pace, in March as the impact of the continued deployment of Filipino workers to alternative labor markets offset the ill - effects of the recent disaster in Japan and the unrest in the Middle East on employment offshore. ( More from this said article can be found in the Philippine Daily Inquirer, Business section of the May 17, 2011 issue and grant fully authored by Ms. Michelle V. Remo)
Remittances coming from our OFW or Overseas Filipino Workers, based on its annual growth rate in March was slower than the 6.2 percentage registered in February of the same year and about 7.6 percent in January with only 4.1 percent. This in effect of the continuous deployment of Filipino workers to alternative labor markets affect the ill - effects of the recent disaster in Japan and the unrest in the Middle East on employment offshore.
This, for me, has indeed a great impact on our economy since remittances plays a vital role as it's significant driver of growth and helped boost consumption of Filipino households. Hence, if it is given proper attention and more job orders will come for the Filipino people, the buying power for our peso increases. Thus, we will not anymore suffer high prices for our commodities and someday who knows that I will be also able to do my part as a Filipino contract worker abroad in which I coved share for the betterment of our economy.
In addition, the government must promote technical courses that are very much in demand abroad for students to take. Through this manner, every Filipino will be prepared to face any job opportunities abroad coming their way which would in return, bring an influx of remittance to our country. To conclude, I would just hope for the best and for peace to fully prosper in our world.
