According to a report released by the Philippine Central Bank (BSP), remittances by overseas workers to the Philippines was supposedly the "highest monthly level so far recorded". This was reported by the Inquirer.net as due to a "robust demand by foreign companies for Filipino skilled and professional workers".
But then the National Statistics Office (NSO) for its part seemed to beg to differ on how "skilled" these "professional" workers are, citing how one in three Filipino workers are "unskilled".
NSO employment and population figures further highlight how the mere existence of an immense number of Filipinos despite being able-bodied enough contribute negatively to the national product:
Number of Filipinos aged above 15 years: 61.2 million
Number of Filipinos in the workforce: 39.3 million
Shortfall: 61.2m - 39.3m = 21.9 million
Translation for those who are a bit slow: There are 21.9 million Filipinos who can work, but aren't.
What exactly are 21.9 million able-bodied Filipinos doing?
That is not a really hard question given that this is the Philippines we are talking about here, so I won't go much into that. I'll leave us with this though: Even if the entire $18 billion in OFW remittances (forecast annualised) is channeled towards supporting these 21.9 million unproductive souls, that works out to a paltry $822 per capita income per annum. Then again, a bunch of folk who sit around on their bums all days texting their friends and singing karaoke probably don't need that much money to begin with.
The point I want to make (which I think I've already achieved, at this point) is more around how meaningless headlines like "OFW remittances surge to $15.46B" are.