Joblessness dips, optimism down in first quarter SWS survey
There were 800,000 less jobless Filipinos in the first quarter of 2017 but optimism that there will be more jobs in the next 12 months fell during the same period.
Joblessness was down 2.2 percentage points to 22.9 percent, or 10.4 million jobless adults, the Social Weather Stations said on Monday, Labor Day. The jobless rate was at 25.1 percent, or 11.2 million, in the December 2016. It shows an improvement of 800,000 less jobless Filipinos.
SWS defined “joblessness” as those without a job at present and are looking for a job. Those who are not working, without a job but not looking for one are not counted.
The survey conducted March 25 to 28 used face-to-face interviews with 1,200 adults nationwide. It had a margin of error of ±3 points. The results were first posted on BusinessWorld’s website.
The March survey put labor force participation rate at 72.2%, or 45.5 million. It shows a slight improvement from December’s 72.1 percent equivalent to 44.8 million, the SWS said. The result shows an increase of 700,000 in labor force participation.
But the optimism rate that there will be more jobs dropped to 44 percent from 48 percent in December. Despite the drop, the SWS classified the rating as “high.”
Those who believed there will be fewer jobs in the same period increased to 15 percent from 12 percent. Those who said there would be no change in job availability hardly moved to 27 percent from December’s 28 percent, the SWS said.
Presidential spokesperson Ernesto Abella said the 2.2 percent drop in joblessness affirmed “the significant strides of the Duterte administration in in sustaining the country’s robust economic growth and making it inclusive.”
May 1 marks the first Labor Day of President Rodrigo Duterte as President.
“The government increased investments in infrastructure will usher in the Golden Age of Infrastructure through our Build-Build-Build campaign which is expected to employ millions of Filipinos in the next five years and spur economic activities by stimulating countryside development,” Abella said. CBB/rga
Subscribe to our daily newsletter
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.