Jobless Pinoys up by 3 M in 2016 – SWS

MANILA, Philippines - Around three million Filipinos joined the ranks of the unemployed in the last quarter of 2016, the highest since December 2014, according to the latest Social Weather Stations (SWS) survey.

Adult joblessness rose to 25.1 percent or an estimated 11.2 million in December 2016 from 18.4 percent or around 8.2 million adults in September 2016 based on the SWS poll conducted from Dec. 3 to 6.

In December 2014, adult joblessness was at 27 percent.

SWS noted that the country’s annual average unemployment rate was at 22.3 percent, which hardly changed from the 21.9 percent in 2015.

The new SWS survey results, published in BusinessWorld yesterday, showed that the unemployed consisted of 12.2 percent (about 5.5 million) who voluntarily left their jobs; 8.7 (an estimated 3.9 million) who lost their jobs due to economic circumstances beyond their control and 4.3 percent (around 1.9 million) who were first-time job seekers.

Those who left their jobs rose in September from eight percent or about 3.6 million adults, while the Filipino adults “who lost their jobs due to economic circumstances beyond their control” also went up by 1.3 points from the third quarter’s 7.4 percent (about 3.3 million).

The number of first-time job seekers also increased from 3.1 percent or an estimated 1.4 million adults previously.

Meanwhile, the same survey showed nearly half of Filipinos or 48 percent are optimistic that there will be more jobs in the next 12 months.

Optimism on job availability hit 48 percent in December from September’s 44 percent, the highest so far since September 2013.

Those who believe there will be less jobs hardly moved, to 12 percent from 13 percent, the lowest since September 2013, while those who believe there will be no change in the job situation was flat from September’s 28 percent.

The net optimism on job availability score (percent more jobs minus percent fewer jobs) rose six points to a record “very high” +37 in December from September’s “very high” +31.

“This is the highest net optimism on job availability score since SWS began surveying it in 1998,” the report read, noting that December’s reading “surpassed the previous record of +36 in November 2010.”

The poll used face-to-face interviews with 1,500 adults nationwide and has sampling error margins of plus or minus three percentage points for national percentages.