The Social Weather Stations (SWS) reported a record-low in the adult joblessness rate among Filipinos in 2015.
In a report first published in BusinessWorld on Tuesday, February 9, the SWS survey found that 21.4% of Filipinos, or 9.1 million individuals, are unemployed, down from 23.7% in September 2015. This means that around 900,000 Filipinos found jobs in the last quarter of 2015.
The numbers show that the joblessness rate for the previous year has decreased to 21.9% from 25.4% in 2014. SWS said that this is the lowest unemployment rate since 2004.
“This latest news again affirms our collective progress under “Daang Matuwid (Straight Path).” Over the past five and a half years, the Aquino administration has made significant strides not only in terms of economic growth but also toward greater inclusivity,” said Presidential Spokesperson Edwin Lacierda in a press statement on Tuesday.
The report also showed that Filipinos are optimistic with their job prospects as 45% of respondents said the number of job openings in the next 12 months will rise, while 7% said it would stay the same, and another 16% said that there would be fewer jobs.
The SWS defined unemployment figures based on the number of Filipinos without a job at present, and those currently looking for a job. Those without a job but are not actively looking for one, such as housewives, retirees, the differently-abled, and students, have been excluded from the survey.
The survey, conducted from December 5 to 8 last year, was moderated using face-to-face interviews of 1,200 adults nationwide: 300 each in Metro Manila, balance of Luzon, Visayas and Mindanao.
The survey has sampling error margins of ±3% for national percentages, and ±6% each for Metro Manila, balance of Luzon, Visayas, and Mindanao.
Photo from d.zarcal or Flickr