86% of PH...

Manila Bulletin - - Busi­ness News -

ve­hi­cles are the most com­mon types of as­sets owned. Other types of as­sets were mo­tor ve­hi­cles, re­tire­ment in­sur­ance, de­posit ac­counts and other real prop­erty apart from their res­i­dence such as land, house and lot, and farm and pre­cious ob­jects. A very small per­cent­age of house­holds owned se­cu­ri­ties and in­vest­ment prod­ucts such as stocks, bonds, mu­tual funds and unit in­vest­ment trust funds, ac­cord­ing to the BSP.

House­hold li­a­bil­i­ties are in the form of con­sumer and real prop­erty loans, the re­port added. About two per­cent of house­holds have credit cards.

“Aside from hous­ing and real es­tate, mo­tor ve­hi­cle, and credit card loans, 15.2 per­cent of house­holds availed them­selves of loans such as per­sonal, salary, mul­ti­pur­pose, and busi­ness loans,” said the BSP.

“These were used pri­mar­ily for busi­ness start-ups and ex­pan­sion, ed­u­ca­tional ex­penses, debt pay­ments, med­i­cal, and house im­prove­ment ex­penses.”

The BSP said the cur­rent CFS showed a sig­nif­i­cant in­crease in the coun­try’s la­bor force in 10 years and re­con­firmed the young pop­u­la­tion. The av­er­age age of house­hold mem­bers are 5 to 14 years old (21.5 per­cent) and 15-24 years old (20.2 per­cent).

“These fig­ures in­di­cated that a sig­nif­i­cant in­crease in the coun­try’s la­bor force could be ex­pected con­sid­er­ing that a much big­ger num­ber of young peo­ple will en­ter the la­bor force ev­ery year com­pared to the num­ber of older peo­ple who leave the la­bor force work­ing age group,” said the BSP.

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