Tuesday, May 22, 2012

SWS: Unemployment hits record-high; 13.8M Pinoys jobless

A latest survey by Social Weather Stations (SWS) revealed at least 13.8 million Filipinos, or 34.4 percent of the country's total population, are unemployed in the first quarter of 2012.

Unemployment hits record high during the first quarter of 2012 in the Philippines, based on the latest survey by Social Weather Stations. PHOTO: OneOman.com

The statistics went record high, said the survey. It showed the first quarter data was up by 10.4 points from last year, meaning, 4.1 million Pinoys added to the "jobless list."

The survey, which was published on Monday thru BusinessWorld Online, was conducted from March 10-13 among 1,200 adults nationwide. The results also surpassed the previous record-high of 34.2 percent in February 2009.

SWS said the survey found that the unemployed -- covering those aged at least 18 years who did not have work and were looking for a job -- consisted of 13% retrenched, 15% resigned and 6% first-time job seekers.

Ten percent of the retrenched had previous contracts that were not renewed, 2% whose employers closed shop and 1% who were laid off.

The number of unemployed has been dominated by those who voluntarily left their jobs and those who lost them under economic circumstances beyond their control since November 2012, SWS added.

The results also showed unemployment was relatively high among women, though there was a bigger jump from the December survey among jobless men.

Unemployment rate was highest among the younger segments with 55.9 percent of respondents aged 18-24 from 49.1 percent in December, and 45.4 percent among those aged 24-34 from 29.9 percent.

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