Quantcast
Latest Stories

Businesses seen to hire more employees by Q4

By

A significant improvement in the job market can be expected in the fourth quarter this year as businesses look to hire more employees amid an expected surge in economic activity in the runup to the Christmas holidays.

The results of a recent employment and expansion plans survey by the Bangko Sentral ng Pilipinas (BSP) showed that the overall employment outlook index of local businesses jumped to a record high of 31.7 percent from the previous 24.1 percent.

The employment outlook index is an indication of hiring plans of companies for the following quarter. A higher score means more companies surveyed said they would increase the number of their employee than those that said they would keep their headcount steady.

The BSP said the index was “another indicator providing support to expectations of sustained growth… for the next quarter.”

The survey showed construction companies were the most optimistic in their employment outlook for the fourth quarter, the BSP said. Likewise, services, wholesale, and retail trade firms were bullish on their hiring plans.

In line with the bullish results on hiring plans, the BSP said companies surveyed also showed optimism regarding the expansion of their respective businesses. The percentage of companies that said they would expand operations in the fourth quarter reached 32.1 percent, net of companies that said their operations would remain the same.

“Across sub-sectors, mining and quarrying recorded the most robust expansion plans, followed by agriculture, fishery and forestry; electricity, gas, and water; and manufacturing,” the BSP said.

The favorable hiring outlook for the fourth quarter comes amid criticism against the government for failure to make a dent in the country’s unemployment figures despite the economy’s healthy growth over the past two years.

The Philippine economy grew by 7.5 percent in the second quarter of the year—the fourth consecutive three-month period that growth has topped 7 percent.

However, despite the healthy growth in the first quarter, unemployment in the same period reached 7.5 percent, up from 6.9 percent the previous quarter, raising concerns over the inclusiveness of the country’s economic boom.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , economy , Employment , money , News

  • Anti-Pork lover boy

    Siyempre taong bayan dami bonus. puno na naman mga malls. kaya they will hire more contractuals only good for until the year is over.

  • just_the_guy

    So what? Next quarter pa lang naman yun. Besides, “outlook” lang naman. Puede bang kainin ng mga mahihirap ang “outlook?” Wala naman “trickle down effect.” Hehehehe….relax lang mga pare/mare ko. Inu-unahan ko lang yung mga siguradong wala na namang makikitang maganda sa balitang ito.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace