To familiarize everyone with key socioeconomic terms and concepts, we have this new social media series.
For this week, our buzzword is "labor force".
It refers to people that are employed as well as unemployed but actively looking for work.
Source: Philippine Statistics Authority
A PIDS study found that increased health spending is associated with increased labor productivity. This suggests that investing in health helps grow the economy.
The study recommends that healthcare access for all Filipinos, regardless of socioeconomic status, must be facilitated. There should also be more investments in primary and preventive care, which is observed to be more effective in improving health outcomes than curative or hospital-based care.
Know more about the impact of health spending on the labor force by reading “Public Health and Labor Policy” available at https://www.pids.gov.ph/publication/discussion-papers/public-health-and-labor-policy.