'Record-high' job optimism in June: SWS survey

ABS-CBN News

Posted at Sep 06 2019 06:41 PM

MANILA - A "record-high" number of Filipinos are optimistic that more jobs will be available in the next 12 months, according to the June Social Weather Stations (SWS) survey released Friday.

A total of 55 percent of the total 1,200 respondents said there could be more jobs in the next year, 12 percent said there would be less jobs available, 22 percent expected "no change" while 11 percent said they "don't know," the SWS survey conducted last June 22 to 26 showed.

The data resulted in a "record high" Net Optimism score of +43 "Excellent," 6 points higher than the Very High" +37 score in March, SWS said.

"The Net Optimists score has reached Excellent levels in only two other times in previous surveys," SWS said, citing December 2017 (+41) and December 2018 (+40) data.

The adult joblessness rate rose to 20.7 percent or about 9.8 million of the adult labor force, from 19.7 percent or 9.4 million in March, SWS said. This accounts for first-time job seekers, voluntary resignations and those who lost their livelihood.

The labor force, estimated to be at 47.4 million, remained steady. The force is composed of those 18 years old and above who have a job or looking for a job, the SWS said.

Labor force participation, or the number of adults in the labor force, slightly dropped in June to 71.1 percent or 47.4 million adults from 71.4 percent or 47.6 million in March.

Joblessness increased in all areas except the Visayas. Metro Manila's rate increased by 3 points to 24 percent (1.5 million) from 21 percent in June.

Adult joblessness is also higher among women than men at 28 percent or 6.1 million compared to 14 percent or 3.7 million in men, the report showed.

Joblessness is also highest among 18 to 24 year olds, the SWS said.