Applicants look at the list of jobs at the Labor Day Job Fair by the Department of Labor and Employment. INQUIRER FILE PHOTO/RAFFY LERMA
There were 800,000 less jobless Filipinos in the first quarter of 2017 but optimism that there will be more jobs in the next 12 months fell during the same period.
Joblessness was down 2.2 percentage points to 22.9 percent, or 10.4 million jobless adults, the Social Weather Stations said on Monday, Labor Day. The jobless rate was at 25.1 percent, or 11.2 million, in the December 2016. It shows an improvement of 800,000 less jobless Filipinos.
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SWS defined 鈥渏oblessness鈥� as those without a job at present and are looking for a job. Those who are not working, without a job but not looking for one are not counted.
The survey conducted March 25 to 28 used聽face-to-face interviews with 1,200 adults nationwide. It had a margin of error of 卤3 points. The results were first posted on BusinessWorld鈥檚 website.
The March survey聽put labor force participation rate at 72.2%, or 45.5 million. It shows a slight improvement from December鈥檚 72.1 percent equivalent to 44.8 million, the SWS said. The result shows an increase of 700,000 in labor force participation.
But the optimism rate that there will be more jobs dropped to 44 percent from 48 percent in December. Despite the drop, the SWS classified the rating as 鈥渉igh.鈥�
Those who believed there will be fewer jobs in the same period increased to 15 percent from 12 percent. Those who said there would be no change in job availability hardly moved to 27 percent from December鈥檚 28 percent, the SWS said.
Presidential spokesperson Ernesto Abella said the 2.2 percent drop in joblessness affirmed聽鈥渢he significant strides of the Duterte administration in in sustaining the country鈥檚 robust economic growth and making it inclusive.鈥�
May 1 marks the first Labor Day of President Rodrigo Duterte as President.
鈥淭he government increased investments in infrastructure will usher in the Golden Age of Infrastructure through our Build-Build-Build campaign which is expected to employ millions of Filipinos in the next five years and spur economic activities by stimulating countryside development,鈥� Abella said. CBB/rga