Job security is top concern of RP consumer

Job security, the economy, health and political stability are the four major issues giving Filipinos sleepless nights, the latest study by pollster AC Nielsen Phils. showed. In its latest Global Consumer Confidence Survey ACNielsen showed that while the Philippines, scoring 103 points, is above the global average of 97 in terms of consumer confidence, issues mostly related to financial security keep Filipinos up at night. The Philippines, according to the poll, maintained its level in consumer confidence index at 103 points, steady in all aspects of the index such as job prospects, personal finances and inclination to spend. The poll showed that 44 percent of the 500 Filipino respondents cited job security as among their top two concerns; followed by 40 percent of respondents who cited the economy; 33 percent who identified health and 30 percent mostly worried with political stability. The job security worry was relatively unchanged since the last poll in the last six months of 2006. Meanwhile, the study showed that concerns on the economy and political stability have significantly dropped. In the latest survey 40 percent cited the economy as a main worry, down from the 47 percent who answered this in the previous year. The poll set out to measure the consumer confidence index globally for the year's first semester. The study covered 47 markets in Eastern Europe, Middle east, Africa, Asia Pacific, Latin America and North America. There were 26,484 consumers interviewed over the internet conducted April 16 to May 1, 2007. AC Nielsen said survey respondents came mostly from the upper middle class as the survey was given out through the internet Globally, the AC Nielsen study showed that the biggest concern to consumers is the economy, followed by health issues and employment. However, ACNielsen noted that the global warming issue jumped to 4th place in this set of poll, reflecting growing levels of awareness and concern worldwide including the Philippines. "In the Philippines, concerns on the economy dropped another seven points as global warming increased by seven points. All other areas of concern are generally maintained," the marketing company said. It was also noted that the Philippines moved one place higher to rank number 5 among the world's top savers. Among the Filipino respondents, 63 percent said they put to savings their spare cash after covering essential living expenses. Nine of the 10 top savers in the world came from the Asia-Pacific Region led by Thailand, Taiwan, Singapore, Indonesia, Malaysia, Hong Kong, Japan and Korea. AC Nielsen said the business community should take note of this trend to look for potentials in the tourism and housing sector. - GMANews.TV