Market Intelligence Reports

Quarterly APAC Market Report Q3 2020

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19 October, 2020 Philippines Schools Reopened – online only Non-essential Shops Open Bars and Restaurants Open International Travel Allowed Arrival Free of Quarantine People <15 years and >65 years are under a stay at home order. Sources: http://www.psa.gov.ph/ https://www.bloomberg.com/news/articles/2020-09-04/filipino-youth-bears-brunt-of-philippines- unemployment-pains https://travel.state.gov/content/travel/en/traveladvisories/COVID-19-Country-Specific- Information.html https://pcoo.gov.ph/news_releases/inter-agency-task-force-for-the-management-of-emerging- infectious-diseases-resolution-no-79-dated-15-october-2020/ https://uk.reuters.com/article/uk-health-coronavirus-philippines-budget/philippines-duterte-signs-3-4- billion-pandemic-stimulus-package-into-law-idUKKBN26228M https://manilastandard.net/mobile/article/336355 Total Workforce (July) 45,877K % Unemployed (July) 10.0% Unemployed Workers 4,571K Underemployed Workers 7,137K The Philippines is in its first recession for 29 years. In the 6 months to July, over 7 million jobs were lost in the Services industry. In July, the unemployment rate in the National Capital Region reached 15.8%. According to the Information and Technology and Business Process Association of the Philippines, business process outsourcing is undergoing a transformation. Prior to the pandemic, ~7% of employees could work from home but this has now risen to ~70%. Youth unemployment in July was 22.4% (approximately 1.7million) although it was down from 31.6% in April. As with the overall unemployment rate, the youth unemployment is highest in the National Capital Region at 32%. Labor Force (in thousands) and Unemployment Rate by Quarter Most Recent Workforce Statistics Employment Situation Youth Employment Situation Total Covid-19 Deaths (22 nd October 2020) https://www.worldometers.info/coronavirus Covid-19 Restrictions – October 2020

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