TREND AND VOLATILITY ANALYSIS OF THE PER CAPITA REMITTANCES OF OFW’S ACROSS VARIOUS CONTINENTS

Abstract

The study analyzed the trends and volatility of the cash remittances of the overseas Filipino workers in the past decade. Simple trend and volatility inference in time series analysis was performed. Results revealed that: aggregate cash remittances by the OFW’s are increasing over time and remains relatively stable. However, per capita cash remittances of the migrant Filipino workers are declining in many countries which used to be the reliable sources of OFW cash remittances. Many
Filipino migrant workers are “underemployed” because of the competition for jobs by other nationals. Implications of the findings to Philippine higher education and training are explored in the paper considering the serious “underemployment” uncovered in this study.