The IHS Markit economist mentioned the effect of decrease oil and gas prices has weighed on increase within the Middle East oil generating international locations – key employment hubs for overseas Filipinos
“Middle East monetary establishments have also been derisking their monetary relationships, because of the worldwide strain on Middle East countries to crack down on illicit economic flows related to terrorism and money laundering,” he added.
Preliminary statistics from the Philippine Overseas Employment Administration (POEA) confirmed the quantity of newly employed land-based totally employees dropped 10.3 percent yr-on-12 months to 235,895, while that of sea-based totally people fell by means of 44.4 percentage to 134,360.
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