• 10.5M Pinoys jobless in 2nd quarter – SWS

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

    The poll conducted from June 23 to 26 also recorded a “very high” net optimism on the availability of jobs.

    The survey showed that 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 the year and 0.5 points higher than the 21.7 percent or 10 million unemployed Filipinos in April to June last year.

    SWS’ definition of joblessness covers those who do not have a job and are looking for a job. It excludes unemployed individuals who are not looking for jobs, such as housewives and students.

    The unemployed for this year’s second-quarter consisted of 5.7 million who said they left their jobs; 2.9 million who lost their jobs due to economic circumstances beyond their control and 1.8 million who 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 was “very high.”

    The number of those who were optimistic that there will be more jobs in the next 12 months climbed to 46 percent in June from March’s 44 percent.

    Meanwhile, 30 percent of the respondents said they see no change in terms of job availability, while 15 percent said they believe there will 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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