Joblessness drops to 15.7% in Q4 2017 – SWS survey

JOB SEEKERS. Jobless Filipinos fill out application forms at a job fair in Quezon City. (Philippine Daily Inquirer File Photo/ LYN RILLON)

Joblessness among Filipinos decreased to 15.7 percent, which translates to about 7.2 million jobless adults, in the fourth quarter of 2017, the Social Weather Stations (SWS) said on Wednesday.

The rate is deemed lowest since March 2004, which posted a rate of 9.8 percent, according to the SWS.

Jobless adults in the fourth quarter, SWS said, consisted of 8.3 percent or about 3.8 million adults, who involuntarily lost their jobs; 5.9 percent or about 2.7 million adults, who were retrenched; while 1.5 percent or about 691,000 adults, who were first-time job seekers.

The fourth quarter joblessness rate is 3.2 points below the 18.9 percent (8.7 million jobless adults) recorded in September 2017.

Joblessness, according to the SWS, covers respondents aged 18 and above who are “without a job at present and looking for a job.”

The SWS survey was conducted from December 8 to 16, 2017.

The SWS survey was conducted from December 8 to 16, 2017.

In a statement, Presidential Spokesperson Harry Roque said Malacañang was “elated” with the results of the survey.

“The Duterte administration is indeed on the right track in making sustainable and inclusive growth as part of our development plan.  Department of Budget and Management (DBM) data showed infrastructure disbursements jumping 44.8 percent year-on-year to P43.8 billion last November,” Roque said.

“We expect to generate more jobs with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, which would increase infrastructure investments. Our Build-Build-Build Infrastructure Program is projected to create more than a million jobs a year,” he added. /kga