One of the main reasons why I started my management consulting practice focusing on cross border investments to the Philippines is to create jobs and other income generating opportunities for the many still without one in the country. While there has been a decline (from 34.4% in 2012 to 22.9 now), more effort is needed if we are to reduce poverty and give a better quality of life for the many still looking for a job. I hope the many local business opportunities I try to match with Australian and other foreign investors will help address this need. Let’s work together to make this happen.
10.4 M Pinoys jobless – SWS
MANILA, Philippines – The unemployment rate in the country has been on a downward trend since 2012, according to the latest Social Weather Stations (SWS) survey that pegged the number of jobless adult Filipinos at an estimated 10.4 million.
The results of the SWS third quarter survey – published in BusinessWorld on Friday – said the unemployment rate in the country for September this year is at 22.9 percent, the lowest since the 21.7 percent recorded in September last year.
The latest survey result is lower by three points from the 25.9 percent unemployment rate recorded in the second quarter of 2014.
According to the SWS, the adult unemployment rate in the country has been on a downward trend since the record-high 34.4 percent recorded in March 2012.
The pollster said seven percent of the respondents involuntarily left their jobs, while 12 percent resigned. The survey was conducted from Sept. 26-29 among 1,200 respondents nationwide.
In addition to a lower unemployment rate, the latest survey results showed that optimism for work availability in the next 12 months improved.
The net optimism on job availability increased by eight points to a “fair” 12 from a “mediocre” four rating in the second quarter survey.
The SWS said 33 percent of the respondents think the number of jobs in the next 12 months will increase, while another 33 percent said it would stay the same.
Twenty-two percent of the respondents said they think job availability would decrease, while the remaining 12 percent of respondents said they have no idea.