SWS: Adult joblessness soars to 10.9 million, optimism slips in Q1

MANILA, Philippines — The ranks of jobless Filipinos surged to a one-year high in the first quarter, according to a Social Weather Stations survey that also showed weakening optimism on job availability in the next twelve months.

Joblessness in the country jumped to 23.9 percent (estimated 10.9 million adults) in the first three months of the year, an SWS poll of 1,200 adults released on Labor Day found.

The latest reading was 8.2 percent higher than the 15.7 percent (estimated 7.2 million adults) in the preceding three months and the highest since the 25.1 percent print in the last quarter of 2016. 

Adult joblessness spiked in all areas except in Metro Manila, where unemployment slipped 0.5 points to a “record low” 19.0 percent.

Meanwhile, joblessness rose in both urban and rural areas, as well as among sexes and age groups.

“SWS’s adult joblessness data refers to adults in the labor force. Those with a job at present, plus those without a job at present and looking for a job, are part of the labor force,” the SWS noted.

Broken down, the first quarter joblessness rate consisted of 12.6 percent (estimated 5.8 million adults) who voluntarily left their old jobs; 7.7 percent (estimated 3.5 million adults) who involuntarily lost their jobs; and 3.5 percent (estimated 1.6 million adults) first-time job seekers.

The latest data brought the nation’s adult labor force participation rate at 71.4 percent (estimated 45.8 million adults), falling 0.7 percent from 72.1 percent (estimated 45.5 million adults) a quarter ago.

The same survey also showed net optimism on job prospects in the next 12 months sliding to a “very high” +37 from an “excellent” +41 in the preceding quarter.

The SWS survey has sampling error margins of ±3% for national percentages, and ±6% each for Metro Manila, Balance Luzon, Visayas, and Mindanao. The poll was conducted from March 23-27, 2018 using face-to-face interviews of 1,200 adults.