Closures, retrenchment leave almost 130K jobless

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    NEARLY 130,000 workers nationwide have lost their jobs as of July 19 after over 5,000 companies either shut down permanently or retrenched workers amid the coronavirus disease (COVID-19) pandemic.

    The latest Job Displacement Monitoring Report of the Department of Labor and Employment showed 127,962 displaced workers from 5,672 companies.

    The report also said 90 percent of the companies (5,100) reduced their workforce, affecting 116,087 employees, while the remaining 10 percent (572) reported permanent closure, which displaced 11,875 workers.

    In July alone, 23,244 employees from 1,690 firms lost their jobs.

    Last month, 50,589 workers from 2,602 firms were displaced. It was the highest toll so far.

    Among regions, the National Capital Region (Metro Manila) had the highest number of displaced workers with 52,814 followed by Calabarzon (31,254), Central Luzon (15,524), Central Visayas (6,747), Cordillera Administrative Region (5,345), and Davao (3,906).

    In terms of major industry group, the administrative and support service has the most displaced workers at 32,092 followed by the other service activities (19,408); manufacturing sector (17,787); accommodation and food service industry (10,196); wholesale and retail trade, repair of motor vehicles and motorcycles (9,652); financial and insurance activities (6,036); and information and communication (6,017).

    The COVID-19 pandemic saw the imposition of various levels of community quarantine, which resulted in the halt in operations of nearly all business establishments.