Inflation and Unemployment: Economic Challenges Faced by the Philippines during Covid-19 Pandemic

9 Pages Posted: 22 May 2023

See all articles by Jackielyn Cabacungan

Jackielyn Cabacungan

World Citi Colleges - Quezon City - Graduate School Department

Florinda Vigonte

World Citi Colleges - Quezon City - Graduate School Department

Dana Garcia

World Citi Colleges

Marmelo V. Abante

World Citi Colleges - Quezon City - Graduate School Department

Date Written: May 20, 2023

Abstract

Due to its lethal and contagious spread, which has raised health worries for everyone, the COVID-19 epidemic has significantly affected the world. Limited face-to-face interactions between people have been established to mitigate its transference, affecting how people move and communicate with each other and creating a massive impact on the global economy. The researchers were assigned to conduct a related study on employment and inflation. This study discusses the impact of COVID-19 on pre-pandemic and current unemployment and inflation in the Philippines. The researchers gathered and reviewed related literature using keyword and database searches to locate relevant studies and articles. Based on literature and accumulated information, the researchers conclude that COVID-19 negatively affected the Philippine economy, resulting in a definite increase in the unemployment rate and a rise in primary commodity prices as the reported inflation rate escalated.

Keywords: COVID-19, economy, inflation, pandemic, Philippines, unemployment

Suggested Citation

Cabacungan, Jackielyn and Vigonte, Florinda and Garcia, Dana and Abante, Marmelo V., Inflation and Unemployment: Economic Challenges Faced by the Philippines during Covid-19 Pandemic (May 20, 2023). Available at SSRN: https://ssrn.com/abstract=4453924 or http://dx.doi.org/10.2139/ssrn.4453924

Jackielyn Cabacungan (Contact Author)

World Citi Colleges - Quezon City - Graduate School Department ( email )

Philippines

Florinda Vigonte

World Citi Colleges - Quezon City - Graduate School Department ( email )

Dana Garcia

World Citi Colleges ( email )

Philippines

Marmelo V. Abante

World Citi Colleges - Quezon City - Graduate School Department ( email )

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