Thursday 26 February 2009

Downturn hits Philippine remittances

By Jill McGivering
BBC News, Manila

Job seeker searches for photograph at jobs fair, Manila, 23 Feb 09
Jobs at home in the Philippines and abroad are harder to find

In the Philippines, about eight million people - one in 10 adults - work abroad.

Millions of families depend on the money they send back.

But now a crisis is looming - as the economic downturn means thousands are losing their jobs overseas and being sent home.

Migrant workers are called "the new heroes" in the Philippines because of the contribution they make to the national economy.

The money they send home to their relatives is crucial, paying for food, shelter and education.

But now a growing number - already in the thousands - are being forced home because they have lost their jobs. Read more

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