More Filipinos got jobs in November last year, but a lot more considered themselves poor in December.
According to the Philippine Statistics Authority’s (PSA) latest Labor Force Survey, the unemployment rate dropped to 3.2% in November last year, an improvement from 3.6% in the same month recorded the previous year.
Underemployment also fell to 10.8%, down from 11.7% a year ago, signaling better job quality and fewer workers seeking additional hours or jobs.
But Social Weather Stations (SWS) survey last December however showed that 63% of Filipinos now consider themselves poor, the highest percentage in 21 years.
This figure marks a significant increase from 46% in March 2024, indicating a worsening economic situation for many Filipino families.
The survey found that self-rated poverty has been steadily rising for three consecutive quarters. This trend highlights the growing struggle of Filipinos to meet their basic needs amid rising inflation and economic uncertainty.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said in a statement that the “labor market remains robust, with consistently high employment rates and reduced underemployment,”
The NEDA chief emphasized the government’s commitment to improving job quality, highlighting plans to promote business upgrading and skills training programs.
The improved employment numbers align with the government’s objectives under the Philippine Development Plan 2023-2028. The plan incorporates a range of initiatives, including facilitating alternative work arrangements to meet evolving worker preferences and organizational demands.
The agency plans to release later this month the 2024 Philippine Development Report, which it explained will provide evidence-based strategies to sustain economic growth and create quality jobs.
Using data from the Philippine Statistics Authority’s medium-population projections for 2024, SWS estimated the number of SRP families at 17.4 million in December 2024, up from 16.3 million in September 2024.
According to the SWS survey, only 26% of Filipino families consider themselves “not poor,” marking a 2% decline from 28% in September 2024 and a record-high 30% in June 2024.
Food poverty also remained a significant concern, with Mindanao registering the highest rate at 68% who considered themselves food poor, followed by the Visayas at 61%, Balance Luzon at 42%, and Metro Manila at 39%.
The SWS report emphasizes the severe impact of rising inflation on Filipino families. Despite the increasing cost of living, the minimum budget required by poor families to avoid poverty has remained relatively unchanged. This widening gap between needs and available resources underscores the urgent need for effective government intervention to address the growing poverty crisis.
