THE NUMBER OF FILIPINOS optimistic about the country’s employment situation increased in the third quarter, the Bangko Sentral ng Pilipinas said in its latest survey.
According to the survey, the “unemployment index” improved to +66.1 percent in the third quarter, probably due to reports that the worst of the global economic turmoil was over and so its impact on job creation in the country would ease.
The unemployment index stood at +73.6 percent in the second quarter, and at +76.1 percent in the third quarter of last year.
The central bank computes the index by subtracting the number of respondents who said they were expecting the unemployment rate to increase in the months ahead from those who said they expected it to decline.
A positive unemployment index means that there were more respondents who believed that the country’s jobless rate would rise in the coming months against those who believed it would drop.
Rosabel Guerrero, director at the central bank’s economics and statistics department, said that while the unemployment index remained in the positive territory in the third quarter—which means that the pessimists outnumbered the optimists as far as the employment situation was concerned—it was the lowest since the second quarter of 2008.
The decline in the unemployment index means that the number of Filipinos believing the employment conditions will improve has increased, although still outweighed by the number of Filipinos thinking that things could get worse.
Guerrero said the number of pessimists have been consistently surpassing the number of optimists since the quarterly survey was first conducted by the BSP in 2007. She said more Filipinos tend to have a negative outlook on employment.
She said the fact that the number of pessimists had declined was an encouraging sign. The drop in the unemployment index could be attributed to the easing of the economic turmoil experienced worldwide.
The unemployment index peaked in the third quarter of last year at +76.1 percent at the height of the global economic crisis.
During that time, many Filipino households, especially those dependent on overseas remittances, were concerned about layoffs by companies based in recession-hit countries like the United States, Taiwan, Japan and those in Europe.–Michelle V. Remo, Philippine Daily Inquirer
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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