0.7-million Pinoys in US belong to housing rescue plan tier

Written by Isagani de la Paz on . Posted in 2009-News-Packet-Vol-08-01

QUEZON CITY, Philippines — More than 0.7 million Filipinos belong to the tier that the United States government plans to rescue from a housing crisis, recent US census data bare.

The 2007 American Community Survey of the US Census Bureau cited that 45.6 percent of an estimated 1.7 million Philippine-born US residents cite 30 percent or more of their monthly income goes to cost of ownership of a house, or mortgage.

From debt they can’t part

Written by Jeremaiah Opiniano and Isagani de la Paz on . Posted in 2009-News-Packet-Vol-08-01

Overseas Filipino workers bear debts as crisis hits labor-importing economies

MAKATI CITY, Philippines — Ramones Caytiles’s stint in Taiwan is as short as the song-length of his namesake American punk rock band: two weeks.

But nearly six months now since he and 171 fellow workers got pink slips last year from their employer Hanston Display Corp., Caytiles feels life is as long as Don Maclean’s American Pie song.

Teachers say Asia grappling to balance migration, crisis-hit labor market

Written by Jeremaiah Opiniano and Isagani de la Paz on . Posted in 2009-News-Packet-Vol-08-01

PASIG CITY, Philippines — Professor studying labor migration in Asia said countries in the region will scuttle to protect their economies but avoid edging out foreign workers as a global financial collapse seeps into real sectors.

One of them is Dr. Yap Mui Teng of the Lee Kwan Yew School of Public Policy under the National University of Singapore.

Gov’t economist says Middle East guide to crisis’ impact on OFWs

Written by Jeremaiah Opiniano and Isagani de la Paz on . Posted in 2009-News-Packet-Vol-08-01

PASIG CITY. Philippines — AS the plane nosed down to its landing in Dubai, economist Josef Yap sensed a portent of things to come for Filipino workers in the Middle East and the labor export industry.

“These are the scenes of the Asian financial crisis of 1997,” Yap recalled saying to himself and to three other Southeast Asian economists during that visit in the financial capital of the United Arab Emirates.