The Tamesis
October 23, 2025
Manila— Our economic climate seems burrowing as a handful of corrupt political leaders, federal government execs, and service providers siphon off much of our nation’s wide range.
Couple of might see, however our stats inform us that since August we have actually shed over half a million (537,000) small companies up until now this year (i.e. contrasted to December in 2014).
We are down 388,000 individuals contrasted to the exact same month last August. December’s numbers were most likely increased seasonally by companies arising in action to raised Xmas need.
In either case, these numbers are massive and need to alarm system us that we have actually shed numerous countless small companies in such a brief time period.
Also contrasted to pre-pandemic January 2020, we still have 219,000 less small companies currently.
In other words, while the total economic climate has actually been expanding, the variety of small companies is not raising, however decreasing.
The numbers I saw originated from the Philippine Data Authority’s month-to-month Manpower Study, which tracks different employee groups, among which is “companies that possess family members ranches or companies,” previously “freelance individuals with staff members.”
One can with confidence presume that this is a reasonable matter of our mini, little and moderate ventures (MSMEs).
While this employee group can likewise describe the billionaires (lawful or otherwise) amongst us, such as Villars, Aboitizes, or Discayas, big companies represent just fifty percent of 1% of all companies in the nation.
No matter, this number is an excellent bookkeeping of MSMEs in our economic climate and is most likely a lot more dependable than accumulating city government service enrollment listings, that include companies that are not always really running.
There are a lot more unpleasant patterns in the manpower information.
I have actually composed prior to that the biggest section of our task losses (fifty percent or 49.8% since August) are college-educated employees; grads represent 39%.
Prior to the pandemic, those numbers were just 37% and 27%, specifically, when our jobless populace was controlled by employees with a senior high school education and learning (44%).
At the exact same time, our monitoring placements remain to diminish. Considering that January 2020, the variety of supervisors has actually stopped by 2.5 million. The number has actually stopped by 610,000 considering that December, and these patterns follow us shedding numerous countless small companies.
Rather, what we got over the previous 5 years were solution and sales tasks (3.3 million), important professions or tasks calling for little or no abilities (2.7 million), and clerical assistance employees (1.4 million).
In the previous year alone, fundamental professions have actually expanded by 1.1 million– believe shipment young boys, tricycle motorists or habar habar motorists, and various other casual field tasks. This follows information revealing transport solutions turning into one of the fastest expanding solution subsectors in the economic climate in current times.
What does all this claim concerning the state of the Philippine economic climate?
The leading numbers look great: rising cost of living has actually slowed down (although is climbing once more), total joblessness goes to a lowest level, and GDP (revenue) development is still respectable in spite of down stress.
My normal PiTiK metrics (presyo, trabaho, kita) appear to inform all of us is well. Yet looking below the surface area informs a really various tale.
Rising cost of living, although slower, is driven mainly by climbing food rates, which influences the poorer amongst us one of the most.
Over I have actually suggested of what the task appears like, however it’s not rather. When it comes to result and revenue, they are mainly driven by customer investing, consisting of top-level investing (believe Ferraris and Rolls-Royces with complimentary umbrellas).
At the same time, federal government customer investing has actually sustained the economic climate at a double-digit yearly price of 13.1% up until now this year.
At the same time, investing on set funding development, frequently referred to as genuine financial investment, has actually expanded a lot more gradually considering that recoiling by 9.9% in 2021 adhering to the pandemic.
GDP information informs us that in the years considering that, yearly GDP development has actually progressively slowed down to 9.7%, 8.2%, 6.2%, and most lately, 4.3%.
Keep in mind that financial investment investing, whether by immigrants, Filipinos, or the federal government (with genuine instead of ghost framework growth), improves the economic climate’s capacity to expand better.
Subdue it, as is taking place, and the economic climate will certainly go stale. At the exact same time, I restate the 3 adjectives I utilized to explain the Philippine economic climate years ago: slim, superficial and hollow. The numbers are distinct.
Our economic climate today advantages just a significantly handful of individuals.
I desire I might upright an extra favorable note, however of course, there is hope. Yet most of us require to act to combat right future we should have.
