En route to rising joblessness

First published on thepoc.net

In his inaugural address in June last year, President Benigno “Noynoy” Aquino III promised to create more jobs “so that searching for jobs overseas will not be necessary.”  Almost a year later, the promise now sounds more like a lie as the country’s unemployment rate even worsened.

The number of jobless Filipinos swelled to 11.3 million in March from 9.9 million in November last year based on the latest Social Weather Station (SWS) survey first published on BusinessWorld. The survey, which was conducted from March 4-7, also said that unemployment rate rose to 27.2 percent from 23.5 percent four months earlier.

The estimated 11.3 jobless adult Filipinos represent 12.28 percent of the country’s estimated population at92 million as of 2009. This means that one in every ten Filipinos are jobless.

Official unemployment rate stood at a lower 7.4 percent as of January or equivalent to an estimated 2.9 million Filipinos, up from 7.1 percent in October last year.

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