Employment among leading firms grew in Q3, says BLES

Employment among the top enterprises in Metro Manila during the third quarter of 2013 kept its growth pace from the same period the previous year as the Philippine economy continued to perform strongly.

The Bureau of Labor and Employment Statistics (BLES) also said in a report that the labor turnover rate—the difference between jobs gained and jobs lost—was at 2.38 percent.

This means that for every 1,000 enterprise workers in the National Capital Region (NCR), 24 people were added during the three months to October.

For every such group, 84 new hires joined but 60 quit or were fired. The hiring rate was recorded at 8.37 percent while the separation rate was 5.99 percent.

“Growth occurred in all three broad sectors with industry taking the lead and services trailing not far behind while modest growth was posted in  agriculture, forestry and fishing,” BLES said.

Employment in the industry sector improved by 3.07 percent, services by 2.25 percent, and agriculture by 1.16 percent.

Among 18 industries covered, the labor turnover rate in the third quarter was best in businesses engaged in education (4.95 percent), manufacturing (4.7 percent), and transportation and storage (3.79 percent).

On the other hand, employment was worst in mining and quarrying, dipping by 3.17 percent.

Other industries that contracted were arts, entertainment and recreation, (0.74 percent) and real estate (0.37 percent). Ronnel W. Domingo