Joblessness drops to 19.7% in Q2 2018: SWS

Davinci Maru, ABS-CBN News

Posted at Sep 13 2018 05:40 AM

MANILA - Joblessness among adult Filipinos decreased in the 2nd quarter of 2018, the Social Weather Stations (SWS) said Wednesday.

Results from the survey, conducted from June 27 to 30 among 1,200 respondents, also showed a "very high" net optimism on job availability.

The major polling firm said that 19.7 percent of respondents, which translates to about 8.6 million, were jobless. This is 4.2 points below the 23.9 percent or an estimated 10.9 million recorded in the March 2018 survey.

The joblessness rate is composed of 9.5 percent or 4.2 million who voluntarily left their old jobs, 6.8 percent or 3 million who lost their jobs, and the 3.4 percent or 1.5 million new job seekers.

Joblessness covers respondents who are without a job at present and looking for a job, SWS said.

The June 2018 survey put adult labor force participation rate at 68.3 percent or 43.8 million, which is lower from the 71.4 percent or 45.8 million in the first quarter. 

'VERY HIGH' OPTIMISM

SWS also said respondents remained optimistic of job prospects in the next 12 months.

Job optimism or the number of people who think there will be "more jobs" fell only to 47 percent in June from 49 percent in March.

Respondents who answered there will be "fewer jobs" increased by 3 points to 15 percent, while 24 percent said there were will be "no change" in job availability.

The net optimism on job availability scored a "very high" 32 points. A score of at least 30, based on SWS scale, classifies as very high.

In terms of geographical area, joblessness in Balance Luzon fell by 8.8 points to 19.3 percent. It also decreased in the Visayas by 2.5 points to 19 percent.

In Metro Manila and Mindanao, joblessness hardly changed by 19.4 percent and 21.2 percent respectively.

SWS said joblessness among women decreased by 7.8 points to 21.6 percent. Jobless men, on the other hand, only declined 0.5 points to 15.6 percent.

When it comes to age, 44.4 percent of jobless respondents came from 18 to 24 years old.

The survey had sampling error margins of ±3% for national percentages, and ±6% each for Metro Manila, Balance Luzon, Visayas, and Mindanao.