This move directed capital to this important sector that employs two-thirds of Filipino workers’ and increased the volume of loans to MSMEs by almost 1,400 percent from April to November 2020. Speaking of banks, the country’s banking sector entered the crisis with adequate capital.
More broadly, recent surveys by the Bureau of Labor Statistics indicate that the provision of formal education on the job has risen markedly in recent years. By 1995, 70 percent of workers in establishments with 50 or more employees had received some formal training during the twelve months preceding the survey. The incidence of training was relatively high across age groups and educational attainment.