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Wednesday, April 24, 2024

SWS: Jobless rate eases to 24.8%

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At least 24.8 percent or about 11.9 million Filipinos were found jobless in September amid the pandemic, according to the latest Social Weather Stations (SWS) survey.

The survey showed that 24.8 percent of the labor force were found without a job from Sept. 12 to Sept. 16. This was down by only 2.8 points from the 27.6 percent, or some 13.5 million jobless individuals, recorded in June this year.

It is 12.6 points below the record-high 37.4 percent average of 2020, but 5 points above the 19.8 percent average of 2019, before the COVID-19 pandemic.

The SWS defines the labor force as adults (age 18 years and above) currently employed or those looking for a job, while labor force participation rate is the proportion of adults in the labor force

The poll was conducted when the country was experiencing a surge in COVID-19 cases following the detection of local transmission of the Delta variant.

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The resulting 26.1 percent average for the first three quarters of 2021 is less than for 2020  but has not recovered to pre-pandemic levels.

The September 2021 survey found the Labor Force Participation Rate at 68 percent, or an estimated 48.2 million. It was 69.1 percent, or an estimated 48.9 million, in June 2021.

The jobless consist of those who (a) voluntarily left their old jobs, (b) are seeking jobs for the first time, or (c) lost their jobs due to economic circumstances beyond their control.

Joblessness reached a catastrophic level of 45.5 percent in July 2020. It eased to 39.5 percent in September 2020, 27.3 percent in November 2020, and 25.8 percent in May 2021. It bounced to 27.6 percent in June 2021 before easing to 24.8 percent in September 2021.

The SWS showed that adult joblessness is highest in Metro Manila at 34 percent, followed by Luzon at 27 percent, the Visayas at 23 percent, and Mindanao at 16 percent.

The 2.8-point decline in the national joblessness rate between June 2021 to September 2021 was due to decreases of 7.3 points in Metro Manila, 3.4 points in Balance Luzon, and 2.8 points in Mindanao, combined with an increase of 1.4 points in the Visayas.

Joblessness fell in Metro Manila from 40.9 percent in June 2021 to 33.6 percent in September 2021, while it fell in Balance Luzon from 30.9 percent in June 2021 to 27.5 percent in September 2021. It also fell in Mindanao from 19.2 percent in June 2021 to 16.4 percent in September 2021.

However, it rose in the Visayas from 21.3 percent in June 2021 to 22.6 percent in September 2021.

Joblessness also dropped among women from 38.3 percent to 32.3 percent, but it hardly changed among men from 19.8 percent to 19.3 percent.

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