Social Weather Stations (SWS) survey company released a report on Thursday showing the joblessness rate in the Philippines during the third quarter was at 18.4%, which is the lowest in 9 years and lower than the 21.7% rating rated in June.
The survey was done on September 24-27, 2016 with among 1,200 adult respondents nationwide. The survey has a ±3-point sampling error margin.
The 18.4% joblessness rate translated to 8.2 million Filipinos who have a job at present, plus those without a job at present and looking for a job. Here's a summary of the survey results from SWS:
- 8.0% or an estimated 3.6 million adults who voluntarily left their jobs compared to June’s 10.3% or estimated 4.7 million adults;
- 7.4% or an estimated 3.3 million adults who lost their jobs due to economic circumstances beyond their control, roughly steady from the 6.7% or an estimated 3.1 million adults in the second quarter; and
- 3.1% or an estimated 1.4 million adults who were first-time job seekers, compared to the 4.7% or an estimated 2.2 million adults in the June survey.
People are also optimistic about job availability. 44% of the participats said that the number of available jobs in the next 12 months will increase. It is higher than the 39% reported in April. Only 28% said there will be no change in job availability, while 13% only said it will decrease.
President Rodrigo Duterte is aiming to reduce the unemployment rate in the Philippines to as low as 4% by 2022. As of July 2016, the Philippine Statistics Authority (PSA) said the unemployment rate is at 5.4% while underemployment is at 17.3%.
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