Age is wealth


FROM the date of birth, the countdown to non-productivity begins. Officially, a Filipino becomes part of the labor force at age 15.

In July 2018, the Philippine Statistics Authority (PSA) reported there were 71.5 million Filipinos, 15 years old and over. Close to 43 million are in the labor force, and 28.5 million out of it.

Labor participation peaks between the age 15 to 24 and declines from then on to age 65. Having a job, however, does not ensure survival, much less on a decent level.

In the Philippines, 21.6 percent of the population lived below the national poverty line in 2015, based on Asian Development Bank data.

Just how much should a Filipino family of five need in order to survive? Initially, the National Economic and Development Authority (NEDA) said P10,000 a month should be sufficient. After…

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