Drop in joblessness rate indication of country’s robust local economy — Palace

Published September 13, 2018, 4:28 PM

by AJ Siytangco

By Genalyn Kabiling

The latest drop in the country’s joblessness rate is another indication of the country’s robust local economy, Malacañang said Thursday.

Presidential Spokesperson Harry Roque (Jansen Romero/ MANILA BULLETIN)
Presidential Spokesperson Harry Roque
(Jansen Romero/ MANILA BULLETIN)

Presidential Spokesman Harry Roque welcomed the results of the Social Weather Stations (SWS) survey showing the joblessness among Filipinos went down to19.7 percent.

“Mabuting balita po. Bumaba po ang joblessness – Ang joblessness po natin ay nasa 19.7% which is 4.2% below the 23.9% in March 2018. Ito po ay sang-ayon sa 2nd Quarter 2018 Social Weather Stations survey [Good news: Our joblessness rate went down. It dropped to 19.7 percent below the 23.9 percent in March 2018 based on the 2nd Quarter 2018 Social Weather Stations survey],” Roque said during a Palace press briefing.

“Ito po ay patunay na bagaman may problema sa inflation, nanatiling malakas po ang ating ekonomiya as evidenced by the reduction in joblessness [This is proof that despite the problem in inflation, our economy remains strong],” he added.

Roque noted that the June survey estimated that 8.6 million adults were jobless, compared to the 10.9 million recorded in March 2018.

“This means that adult joblessness is down by 2.3 million,” he said.

He said the survey results were consistent with the recently released government data by Philippines Statistics Authority that indicated the July 2018 employment rate improved to 94.6 percent. The PSA estimated 40.7 million persons were employed in July, higher than the 40.2 million last year.

“This PSA figure we reiterate is the highest in the last 10 years among previous July rounds as per the National Economic and Development Authority. Patunay po na patuloy na napakalakas ng ating ekonomiya,” he added.

Read more: Survey says joblessness drops in PH by 19.7%