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More workers lost their jobs in 2013 – DOLE

More than 36,000 workers lost their jobs last year due to nationwide company closures and retrenchments, the Department of Labor and Employment (DOLE) said.

The number was higher compared to the 35,500 workers who lost their jobs in 2011 and the 31,700 workers who suffered the same fate in 2012.

Citing its preliminary labor data from Jan. to Oct. for 2013, the Bureau of Labor and Employment Statistics (BLES) said the displaced workers came from 1,925 establishments that filed a notice of closure and retrenchment at DOLE’s regional offices.

Around 22,173 of the displaced workers were from the service sector, 14,251 were from the industry sector while 215 were from the agriculture sector.

About 12,740 of the affected employees were retrenched due to reorganization, downsizing and redundancy of positions in their respective companies’ operations.

It was followed by financial loses, which affected

The DOLE report said 10,216 employees lost their jobs due to financial loses incurred by their employers while 7,664 employees failed to get hired due to lack of market demand.

Other cited reasons for company closures were uncompetitive prices of products, competitions from imports, high cost of production, lack of capital, peso depreciation, change in management, and lack of raw materials.

Minimum wage was the least cited reason for a company to resort to closure or retrenchment with only 14 reported affected employees.

BLES, however, said the number of these displaced workers  could still rise since the report excluded the data from November to December last year, when some parts of the country were devastated by the Zamboanga crisis and super-typhoon “Yolanda.”

DOLE earlier said it expects the number of employed workers in the country to bounce back this year as government infrastructure projects and reconstruction efforts in the typhoon-affected areas begin.