That is equivalent to around P2.1 billion in lost wages a day, Chua said. Unemployment leapt to 17.7 percent in the second quarter before easing to 8.7 percent in the fourth quarter as quarantine restrictions were relaxed. He said a big part of the forgone wages comes from restricting children and family activities. “In 2021, the key to our recovery is to continue managing risks, not to avoid them completely. The losses have been huge and a reversal to stricter community quarantines in 2021 is not an option,” he said.

Source: Manila Times December 30, 2020 16:26 UTC