The latest Social Weather Survey, conducted between June 23 and July 1, 2024, has some concerning revelations about how Filipino families perceive their financial situation. A whopping 58% of families now consider themselves "mahirap" or poor, which is a significant jump from 46% in March 2024. This is the highest percentage recorded since June 2008.

So, what do these numbers actually mean? Let’s break it down.

Feeling the Pinch: More Families Consider Themselves Poor

The survey indicates that around 16 million Filipino families felt they were poor in June 2024, up from 12.9 million in March. This increase highlights the growing economic strain that many households are experiencing.

The Historical Context

The concept of self-rated poverty isn't new. Since April 1983, families have been surveyed to gauge their perception of poverty. Back then, 55% of families considered themselves poor, and this number peaked at 74% in 1985. Over the years, these figures have fluctuated, reflecting the country's economic changes.

Where Do Families Stand?

In the latest survey, aside from the 58% who rated themselves as poor, 12% of families placed themselves in the "borderline" category—neither poor nor not poor. This is the same percentage as in February 1992, which ties the record low for this category. On the other hand, 30% of families considered themselves "hindi mahirap" or not poor, which ties the record high set in December 2014.

Regional Differences

The rise in self-rated poverty wasn't uniform across the country. Here's a quick look at how different regions fared:

- Mindanao: 71% of families felt poor, up from 56% in March.
- Visayas: 67%, a slight increase from 64%.
- Balance Luzon (outside Metro Manila): 52%, up from 38%.
- Metro Manila:39%, up from 33%.

Conversely, the percentage of families who felt "not poor" increased in all regions, showing that while more families feel poor, some are also feeling more secure financially.

Food Poverty: A Closer Look

When it comes to food, 46% of families rated themselves as "food-poor," a noticeable increase from 33% in March. This percentage is the highest since 2008. On the brighter side, 39% of families considered themselves "not food-poor," an improvement from 31%.

The Cost of Living

The survey also sheds light on what families feel they need to avoid being poor. In Metro Manila, the median monthly budget required is P20,000, down from a record-high P25,000 in March. This drop suggests that families are tightening their belts and lowering their expectations due to economic constraints.

In the Visayas, the required monthly budget fell from P15,000 to P10,000, while in Mindanao, it rose from P10,000 to P12,000. These figures reflect the varying economic pressures across the country.

Newly Poor and Non-Poor

The survey also identified "newly poor" families—those who considered themselves non-poor in the past. About 7.2% of families fell into this category. Conversely, 16.6% of families who are currently non-poor were poor 1-4 years ago.

Survey Methodology

This comprehensive survey was conducted face-to-face with 1,500 adults nationwide, ensuring a broad representation of the population. The findings are based on these interviews, making them a credible snapshot of the current economic sentiment among Filipino families.

What This Means for Filipinos

These figures highlight the growing economic challenges faced by many families in the Philippines. The rise in self-rated poverty suggests that more families are feeling the financial strain, which could be due to various factors like inflation, unemployment, or other economic pressures.

While some regions show improvements, the overall increase in families considering themselves poor is a call to action for policymakers and stakeholders to address these economic issues. Understanding these perceptions is crucial for creating effective policies and support systems to help alleviate poverty and improve the quality of life for all Filipinos.