MANILA, Philippines – Fewer Filipinos are jobless at 8.6 million for the second quarter of the year, a Social Weather Stations (SWS) survey revealed.
The SWS survey, done from June 27 to 30, showed fewer adults were jobless at 19.7%, or 4.2% below the 23.9% score in March at 10.9 million Filipinos.
SWS refers joblessness to adults in the labor force from 18 years old and above. Adult joblessness consists of those who voluntarily left their jobs, those who lost their jobs due to economic circumstances beyond their control, and those seeking jobs for the first time.
The latest survey results found the following:
- 9.5% at 4.2 million people who left their jobs
- 6.8% at 3 million involuntarily lost their work
- 3.4% at 1.5 million were first time job-seekers
The survey also found that labor force participation shrunk to 68.3% at 43.8 million Filipinos, from 71.4% at 45.8 million in March.
Filipinos who believe that there are more jobs dipped by 2 points from 49% in March, to 47% in June. Those who believe that there will be fewer jobs increased by 3 points from 12% to 15%.
In turn, net optimism fell by 5 points from +37 in March to +32. However, this score is still considered a “very high” rating.
SWS uses the following classification for net optimism:
- at least +30 – very high
- +20 to +29 – high
- +10 to +19 – fair
- +1 to +9 – mediocre
- -9 to zero – low
- -10 and below – very low
SWS conducted face-to-face interviews with 1,200 adults. The survey is not commissioned. – Rappler.com