It doesn't help that the agricultural labor force has been on a drastic decline, losing over 1.5 million workers in the past five years alone. This means lower production as more farmers, fishermen, and workers look for other jobs.
The richest 1 percent of Filipinos own more than 50 percent of the country's wealth, a rate of inequality only topped by Hong Kong, Turkey and Russia, according to the World Bank.
The International Monetary Fund and the Asian Development Bank both recently gave rosy outlooks for the Philippine economy. The World Bank is just as optimistic, despite the transition to a new administration.
