• 10.5M Filipinos remain jobless in second quarter of 2017–SWS

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    ABOUT 10.5 million Filipinos remain jobless in the second quarter of 2017, according to the latest Social Weather Stations (SWS) survey released on Monday.

    The same survey on 1,200 adults nationwide from June 23 to 26 also recorded a “very high” net optimism on the availability of jobs.

    According to the SWS survey, 22.2 percent or an estimated 10.5 million adults nationwide were jobless, just 0.8 points below the 22.9 percent or 10.4 million unemployed Filipinos in the first quarter of and 0.5 points of the 21.7 percent or 10 million unemployed Filipinos from April to June in 2017.

    SWS defines joblessness as those who do not have a job at present and are looking for a job. It excludes unemployed individuals who are not looking for jobs, such as housewives and students.

    The second-quarter jobless rate consisted of 12.1 percent or 5.7 million adults who said they voluntary left their jobs; 6.1 percent or 2.9 million adults lost their jobs due to economic circumstances beyond their control; and 3.9 percent or 1.8 million adults were first-time job seekers.

    The latest figures brought the labor force participation to 74.7 percent in the second quarter.

    ‘Very high’ optimism

    The SWS poll also showed the net optimism on job availability in the next 12 months as “very high.”

    Those who are optimistic that there will be more jobs in the next 12 months climbed to 46 percent in June from 44 percent in March.

    Meanwhile, 30 percent of respondents said they saw no change in terms of job availability, while 15 percent said they believed that there would be fewer jobs available.

    This gave the net optimism on job availability a score of +31 in June, reflecting a “very high” rating.

    The SWS classifies a net optimism score of at least +30 as “very high”; +20 to +29 as “high”; +10 to +19, “fair”; +1 to +9, “mediocre”; -9 to zero, “low”; as well as -10 and below as “very low”. It also considers movement from one classification to another as either an “upgrade” or “downgrade.”

    The latest survey on joblessness was first published on BusinessWorld and had a sampling error margin of ±3 points.

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