FEWER JOBLESS ADULTS IN JUNE, SAYS SWS

The Palace said this is a sign of the improving economy of the country

Manila - There were an estimated 8.6 million Filipinos who had no jobs in the second quarter of this year, but they were fewer than the 10.9 million unemployed persons reported as of March.

In a press conference, Presidential Spokesperson Harry Roque Jr. said the poll results merely proved that the country’s economy is improving, despite the 6.4 percent inflation recorded in August.

“Ito po ay patunay na bagama’t may problema sa inflation, nanatiling malakas po ang ating ekonomiya (It is proof that while there is a problem with inflation, our economy remains robust), as evidenced by the reduction in joblessness,” the Palace official said.

Based on the June 27 to 30 survey by the Social Weather Stations (SWS), joblessness declined by 4.2 percentage points to 19.7 percent in the second quarter of 2018 from 23.9 percent recorded in the first quarter.

The pollster defines jobless adults as those who have either voluntarily left their previous jobs, lost their jobs because of retrenchment, or are seeking jobs for the first time.

The survey showed that 9.5 percent, or an estimated 4.2 million adults, resigned or left their jobs voluntarily, down by 3.1 percentage points from 12.6 percent as of March.

Those who were retrenched from May to June fell by 0.9 percentage point to 6.8 percent, estimated at three million, from 7.7 percent in March.

Of the 6.8 percent retrenched employees, four percent did not have their renewed contracts, 2.1 percent were laid off, and 0.7 percent had employers who closed operations.

There was little change among the first-time job seekers, estimated at 1.5 million or 3.4 percent in June from 3.5 percent in March.