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Malacañang claims stable PHL economy after joblessness rate drops to 19.7% in 2Q

A female job seeker walks as she attends a job fair held for fresh graduates in Tokyo, Japan, March 20, 2016. REUTERS/Yuya Shino/File Photo

Malacañang was delighted over the recent Social Weather Stations (SWS) survey showing that fewer Filipinos are jobless at 8.6 million for the second quarter of the year. The SWS survey revealed that fewer adults were jobless at 19.7%, or 4.2% below the 23.9% score in March at 10.9 million Filipinos.

The latest survey results recorded that 9.5% at 4.2 million people who left their jobs; 6.8% at 3 million involuntarily lost their work; and 3.4% at 1.5 million were first-time job-seekers. The survey also found that labor force participation shrunk to 68.3% at 43.8 million Filipinos, from 71.4% at 45.8 million in March.

According to Presidential Spokesperson Harry Roque, the decrease in the number of jobless Filipinos only signifies the stability of the Philippine economy, despite the continuous inflation surge and the rice shortage.

Meanwhile, Filipinos who believe that there are more jobs dipped by 2 points from 49% in March, to 47% in June. Those who believe that there will be fewer jobs increased by 3 points from 12% to 15%. In turn, net optimism fell by 5 points from +37 in March to +32. However, this score is still considered a “very high” rating.

SWS refers joblessness to adults in the labor force from 18 years old and above. It was also conducted thru face-to-face interviews with 1,200 adults.

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