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MANILA, June 1 Asia Pulse - The Department of Labor and Employment (DOLE) said a total of 698 establishments have reported permanent closure/retrenchment due to economic reasons for the first three months of the year.
In a press conference Thursday, Labor Secretary Patricia Sto. Tomas said this figure was up by 1.6 per cent from 687 last year.
But Sto.Tomas said the number of workers who lost their jobs due to establishment closures and retrenchments reached 14,092 or a decline of 27.9 per cent from 19,540 workers laid off last year.
The National Capital Region (NCR) had the highest incidence of establishment closures/retrenchments reaching 406 or 58.2 per cent.
Affected mostly were those establishments engaged in manufacturing totaling 209 or 29.9 per ...
Source: HighBeam Research, 698 PHILIPPINES ESTABLISHMENTS REPORT CLOSURE/RETRENCHMENT.