Wednesday, February 10, 2016

Palace welcomes survey results showing drop in joblessness rate

A Social Weather Stations (SWS) survey showing a decrease in the country’s adult joblessness rate in the last quarter of 2015, which brought the annual average rate down to its lowest level in 11 years, “affirms our collective progress under Daang Matuwid”, Presidential Spokesperson Edwin Lacierda said in a statement.

The SWS, in its Fourth Quarter 2015 Survey, reported that adult joblessness fell to 21.4 percent from 23.7 percent in September 2015, bringing the rate for 2015 down to 21.9 percent from 25.4 percent during the previous year. This annual average is the lowest since 2004.

The SWS also noted an improvement in job market optimism. According to the survey, 45 percent of adults—up from 35 percent last September—expect the number of available jobs to increase in the next 12 months.

Only 16 percent expect otherwise, down from 21 percent.

“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. Apart from successfully reaching a 6.2 percent six-year moving average of real GDP (gross domestic product) growth—the highest in 38 years, since 1978—the government continues to maximize our resources toward better citizen welfare, resulting in lower rates for self-rated poverty and hunger, and increased optimism,” Secretary Lacierda said.

Whether by working to attract more investments or by accelerating the resolution of job-skills mismatch through such agencies as the Department of Labor and Employment and the Technical Education and Skills Development Authority (TESDA), “the government remains committed to continually improving the lives of our Bosses,” he added.

The Palace official expressed hope that “our fellow citizens who have made Daang Matuwid possible will achieve the continuity necessary for a better and brighter future” when they vote for new leaders in May.
The SWS survey was conducted from December 5 to 8 last year among 1,200 adults nationwide. (PCOO News Release)

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