Photo credit: SWS

The latest National Social Weather Survey conducted from March 21-25, 2024, sheds light on the economic hardships faced by Filipino families, with a substantial 46% rating themselves as Mahirap or Poor, according to self-assessment. Additionally, 30% considered themselves on the edge, placing themselves as Borderline, while only 23% identified as Hindi Mahirap or Not Poor.

Despite minimal fluctuations compared to December 2023, where the percentage of Poor families stood at 47%, Borderline families at 33%, and Not Poor families at 20%, the survey highlights the enduring struggle many families face in achieving financial stability.

Regionally, the Self-Rated Poor figures saw a slight decrease in Mindanao and Metro Manila, while the Visayas experienced an increase. As of March 2024, the Visayas recorded the highest percentage of Self-Rated Poor families at 64%, followed by Mindanao at 56%, Balance Luzon at 38%, and Metro Manila at 33%.

Conversely, Self-Rated Food Poverty also presented concerning figures, with 33% of families rating themselves as Food-Poor, 36% on the borderline, and only 31% feeling Not Food-Poor. The Visayas and Metro Manila witnessed an increase in Food-Poor families, exacerbating the already dire situation.

In terms of poverty thresholds, Metro Manila saw a record-high median SRP Threshold of P25,000 in March 2024, while Mindanao witnessed a decline. This disparity underscores the challenges faced by families across different regions.

The survey's insights also delve into the dynamics of poverty transitions, revealing that 6.0% of families transitioned into poverty recently. This highlights the precarious nature of economic stability for many Filipino households.