SWS: Joblessness rises to 2-year high, optimism climbs | ABS-CBN

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SWS: Joblessness rises to 2-year high, optimism climbs
SWS: Joblessness rises to 2-year high, optimism climbs
ABS-CBN News
Published Feb 27, 2017 11:18 AM PHT

MANILA - Joblessness among adults rose to its highest level in two years, even as there is growing hope that more jobs will be available, according to a Social Weather Stations survey released Monday.
MANILA - Joblessness among adults rose to its highest level in two years, even as there is growing hope that more jobs will be available, according to a Social Weather Stations survey released Monday.
The joblessness rate rose to 25.1 percent or 11.2 million adults in December, up from 18.4 percent or 8.2 million adults in September. It was the highest since 27 percent in December 2014, SWS said.
The joblessness rate rose to 25.1 percent or 11.2 million adults in December, up from 18.4 percent or 8.2 million adults in September. It was the highest since 27 percent in December 2014, SWS said.
The average annual adult joblessness rate last year rose to 22.3 percent from 21.9 percent in 2015, according to the study, which was first published on BusinessWorld newspaper.
The average annual adult joblessness rate last year rose to 22.3 percent from 21.9 percent in 2015, according to the study, which was first published on BusinessWorld newspaper.
Asked how they viewed the job market in the next 12 months, 48 percent said they expected "more jobs," up from 44 percent in September. Those who saw "fewer jobs" was hardly changed to 12 percent from 13 percent.
Asked how they viewed the job market in the next 12 months, 48 percent said they expected "more jobs," up from 44 percent in September. Those who saw "fewer jobs" was hardly changed to 12 percent from 13 percent.
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It was the highest level of optimism on jobs since the SWS started measuring joblessness in 1998.
It was the highest level of optimism on jobs since the SWS started measuring joblessness in 1998.
According to the study, the proportion of those who left their job voluntarily rose to 12.2 in December from 8 percent in September. Those who were retrenched rose to 8.7 percent from 7.4 percent.
According to the study, the proportion of those who left their job voluntarily rose to 12.2 in December from 8 percent in September. Those who were retrenched rose to 8.7 percent from 7.4 percent.
The SWS survey covers respondents 18 years and older, unlike the government's Labor Force Survey, the source of the official unemployment rate, which lowers the minimum age to 15.
The SWS survey covers respondents 18 years and older, unlike the government's Labor Force Survey, the source of the official unemployment rate, which lowers the minimum age to 15.
The SWS said it defines joblessness as those "without a job at present" or "looking for a job."
The SWS said it defines joblessness as those "without a job at present" or "looking for a job."
The official unemployment rate stood at 4.7 percent in October 2016, down from 5.6 percent during the same period in 2015.
The official unemployment rate stood at 4.7 percent in October 2016, down from 5.6 percent during the same period in 2015.
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