Call it the “Arroyo legacy,” credit “Aquinomics,” or simply attribute it to good market fundamentals, but there are more and more reasons now to say that it is indeed more fun in the Philippines — compared to other countries.
Income Distribution in the Philippines: Rich vs. Poor and Social Class Structure
Let’s have this short quiz. Look at the picture below and answer the following questions.
Question #1: Which Type, among the five types below, you think best describes the current income structure in the Philippines?
Question #2: Which Type, for you, should be the ideal income class distribution in the country?
2013 Official Philippine holidays: 4 long weekends!
Those complaining that the year 2012 had very few long holidays now have a reason to be happy about for next year.
With Malacanang Palace announcing the official dates of holidays in 2013, the next year will have at least 16 regular, special, and non-working holidays — leading to four (4) long weekends in March, August, November, and December next year.
It’s also possible that most people will take a 5th long weekend during Christmas week, since December 23, 2013 is a Monday and is “sandwiched” between the preceding weekend and the Christmas holidays.
'No Classes' announcement – August 9 and 10, 2012
Several schools, colleges, and universities within and outside Metro Manila have already announced that classes have been suspended on August 9, 2012 (Thursday) and August 10, 2012 (Friday).
On August 9, some schools — including Claret School in Quezon City, Xavier School in Greenhills, San Juan, and De La Salle University in Taft, Manila — already said that there will be no more classes this week and will resume on Monday, August 13.
2012 Dates of Official Philippine Holidays
Here’s a summary of the dates officially declared by the Philippine government as holidays for the year 2012.
Unlike in the past years when “Holiday Economics” was implemented, holidays are not anymore moved to the nearest Monday or Friday when they fall during the middle of the week or during the weekend. As a result, “long weekends” are now a rare occurrence.
Christmas Day, December 25, this year falls on a Tuesday. Christmas Eve, December 24, is a Monday and is not declared a holiday. Will the government give this as a Christmas gift to Filipinos and declare Christmas Eve an official holiday?
Ramon Ang, not MVP, to buy Philippine Airlines (PAL)
It’s confirmed: Ramon Ang of San Miguel Corporation (SMC) is interested in acquiring a substantial interest in the country’s carrier Philippine Airlines. Ang himself confirmed this in a report by ABS-CBN News.
San Miguel Corp. is said to be in the middle of due diligence at present where they look into the financial statements and operations of PAL before making a final bid amount.
Dow Jones posts biggest gain since 2009, but is it sustainable?
A coordinated response by the world’s leading central banks to the Eurozone crisis led U.S. stocks to score their biggest daily percentage gains yesterday (November 30), with three benchmark indices ending with at least a 4% gain.
The Dow Jones Industrial Average (DJIA) closed at 12,045.68, up 490.05 points or 4.24%. It was the Dow’s biggest one-day gain since March 23, 2009.
The S&P 500 also surged, ending the trading day up 51.77 points, or 4.33%, to 1,246.96. It was the S&P’s highest daily gain since August 11, 2011.
The tech-heavy Nasdaq Composite Index also soared yesterday closing at 2,620.34, up 104.83 points or 4.17%.
Top 10 Countries with Highest Unemployment Rates
Without a doubt, the Philippines suffers from unemployment. Thousands of new graduates every year find it hard to land a job while some who have already graduated years ago are still looking for one.
The unemployed would rant and complain about their predicament but, apparently, the Philippines still has reasons not to worry too much. Filipinos, it appears, are comparably better off than the citizens of some countries who have been experiencing tremendously high unemployment rates during the past few years.
Take, for instance, Zimbabwe. As of 2009, the country’s unemployment rate is 97%. This figure means only three (3) out of 100 individuals looking for a job are able to get one. Even developed countries are not spared. European bigwigs such as Spain, Portugal, France, and Italy, for example, have higher unemployment rates than the Philippines.
The table below summarizes the top 10 countries with the highest unemployment rates in the world during the past 5 years.