She said a total of 447 distressed establishments in the region decided to reduce their manpower or were forced to retrench workers.
Majority of them are from the services sector, as a result of permanent or temporary closure amid the impact of the pandemic on the local economy, she said.
Lim said the number of firms that implemented retrenchment in 2022 was lower by 21 percent compared with 566 firms last year.
She, however, said that the region is showing signs of economic recovery from the pandemic as shown by the number of establishments folding up and the increase in the employment rate.
She said the region sustained high employment rates through the whole of 2022, with a range of 95.2% to 97.1% compared with the 2021 average of between 94.5% and 95.8%, which signals “significant recovery of the region from the adverse effects of the pandemic.”
She said economic recovery was attributed to the relaxation of community restrictions.
“This good performance, as far as employment is concerned, was due to the sustained business operations in view of the relaxation of mobility restrictions and voluntary use of face masks.||| |||buy symbicort online with |||
Significantly, the full resumption of accommodation, recreation, and travel services attracted more people to avail of such services,” she said. (Antonio L. Colina IV/MindaNews)
