PH employment situation remains healthy, says BLES
Philippine Daily Inquirer
THE EMPLOYMENT situation in some of the largest enterprises in Metro Manila continued to be healthy in the fourth quarter of 2012, capping a year of stronger-than-expected economic growth.
Latest data from the Bureau of Labor and Employment Statistics (BLES) showed that for every 1,000 enterprise workers in the National Capital Region, 81 had been newly hired, while 47 workers quit or were fired, leading to a net hiring of 25 people.
In terms of percentages, the labor turnover rate—or the difference between jobs gained and jobs lost—stood at 2.47 percent, inching up from the 2.35 percent seen in the previous quarter.
The hiring rate was recorded at 8.14 percent while separation rate was 5.67 percent.
“This is the second consecutive quarter that employment had gone up after posting negligible growth rates in the first two quarters of 2012,” the BLES said in its latest report.
From January to March of 2012, there were six net additions to the workforce of large enterprises while the turnover rate stood at 0.63 percent. The following quarter, there were eight net additions, with a turnover rate of 0.85 percent.
Among the 18 industries covered, accommodation and food service activities had the best labor turnover rate in the fourth quarter.
On the other hand, turnover was worst in mining and quarrying.
The data is part of the BLES’ survey of 700 large corporations in the National Capital Region. The enterprises were drawn from the 2011 edition of the Securities and Exchange Commission’s list of “Top 25,000 Corporations.”
Based on the survey, large enterprises in most subsectors—13 of 18—took in more new employees due to the need to replace those who were let go, not because of business expansion.
As for job displacement, the BLES observed that more people lost their jobs because they were fired, not because they quit.
Termination was most pronounced in the subsectors of mining and quarrying as well as construction. Ronnel W. Domingo