The government estimates the economy lost P83.3 billion in terms of employment and income in the two weeks of enhanced community quarantine (ECQ) and the modified enhanced community quarantine (MECQ) that ensued in the National Capital Region Plus (NCR Plus).
Acting Planning Secretary Karl Chua , in his report to President Duterte and the Cabinet Monday night, said the economy loses P19.6 billion for every week of ECQ and P14.7 billion for every week of MECQ.
He said the P83.3 billion accounts for two weeks of ECQ and three weeks of MECQ.
Last April 6, Chua said the more stringent quarantine in NCR Plus translates to a daily household income loss of P2.1 billion or almost 30 billion pesos for the two-week period
Chua said the unemployment rate as of February hit 8.8 percent which the government hopes to bring down to 4 to 5 percent level next year.
He said during the lockdown in 2020, 8.7 million jobs were lost between January and April 2020 which was offset with the creation of 9.3 million jobs as of February 2021 due to the gradual reopening of the economy that started late last year.
Chua said public cooperation is necessary, especially in following minimum health protocols to address the surge of new coronavirus 2019 (COVID-19 cases and pave the way for the reopening of the economy.
The government placed Metro Manila, Bulacan, Cavite, Laguna and Rizal under ECQ from March 29 to April 11 due to the high number of COVID-19 cases. This was also meant to strengthen the healthcare capacity system in the area.
The ECQ was downgraded to MECQ from April 12 to 30.
Due to the lockdown, some businesses suspended operations, mass gatherings were restricted and movement of people was limited.
The Department of Trade and Industry in a study said 1.5 million workers were displaced by the ECQ in the NCR Plus, depriving them incomes for the two-week period.
While about 500,000 were able to go back to work this MECQ due to the partial reopening of industries that employ the most such as those in manufacturing industry, about 925,886 workers in the NCR Plus have yet to get back their jobs.
