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PH Labor Force to Expand, Says Moody’s

by: Sarah Joson

Monday, July 14, 2014 | Outsourcing News |

According to renowned credit rating agency Moody’s Investors Service, the labor force of the Philippines will grow faster than its regional counterparts. From 2012 to 2025, Moody’s is expecting a 20-percent growth for the labor pool of Laos, Cambodia, and the Philippines.

Citizens aged 15 to 65 years old are included in Moody’s classification of labor force. As per World Bank’s projections, ASEAN member countries with citizens aged between 15 and 64 will increase by 16 percent - reaching 471.5 million between 2012 and 2025.

Of these Asian countries, Laos’ labor force is poised to grow the most with 30 percent. The Philippines takes second place with 25 percent. Malaysia, Indonesia, India, and ASEAN in general are expected to post 15-20 percent growth.

Singapore was also expected to grow by 10 percent, but with stricter immigration laws in the US in 2012, these growth projections will not take place.

As for China, Thailand, South Korea, Hong Kong, and Japan, growth of labor force is expected to decline with Japan taking the hardest hit of nearly 10 percent.


Source:
http://www.bworldonline.com/

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