Joblessness in the Philippines has decreased to 15.7%, lowest percent in 14 years based on the SWS result.


The result of the Social Weather Stations (SWS) survey in the fourth quarter of 2017 , conducted with 1,200 respondents from December 8-16, 2017, has been released about the joblessness among adult Filipinos.
Based on the result, it has declined to its lowest level in almost 14 years at 15.7 percent or 7.2 million adults as compared to the third quarter survey done last September 2017 with 18.9%, which gives 3.2 difference.

SWS said the 15.7 percent level is the lowest recorded joblessness rate since 9.8 percent recorded in March, 2004.

Below is the percentage breakdown of the considered jobless in the survey:

-Those who voluntarily left their old jobs (8.3 percent or 3.8 million adults)

-Those who involuntarily lost their jobs (5.9 percent or 2.7 million adults)

-Tirst-time job seekers (1.5 percent or 691,000 adults).

Respondents Respondents were asked, “Twelve months from now, do you think there will be more jobs, no change in available jobs, or fewer jobs?” 

The result shows that Filipinos are very optimistic that there will be more jobs, which has increased by 8% (from 45% in September  up to 53% in December 2017) and got an “excellent” rate,  while a declined by  6% (from 18% in September down to 12% in December 2017) for the pessimistic. Those who thought that job availability will remain constant also decreased by three% (from 27% in September to 24% in December).

According Presidential spokesman Harry Roque, the survey results only show that the administration is on the right track in its economic programs.

“This was the lowest recorded joblessness rate since March, 2004.  More job opportunities will be made available with the government’s massive infrastructure program and the implementation of the new tax reform law” Roque said.
“We expect to generate more jobs with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, which would increase infrastructure investments. Our Build, Build, Build Infrastructure Program is projected to create more than a million jobs a year,” he added.

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Source:  news.mb.com.ph

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