The number of jobs among the top large enterprises in Metro Manila grew in the third quarter of 2011 as the rate of hiring outpaced the rate of job loss, according to the Bureau of Labor and Employment Statistics.
Latest data from the BLES show that for every 1,000 workers in the National Capital Region, 111 new hires were added but 86 quit or were fired.
Job growth was largest in the sector of real estate, renting and business activities, while job loss was greatest in mining and quarrying.
The data is part of the BLES’ survey of 700 large corporations in the National Capital Region, which were drawn from the 2010 edition of the Securities and Exchange Commission’s list of “Top 25,000 Corporations.”
The rate of growth in employment settled at a net of 2.51 percent, which meant 25 new workers were added for every 1,000, as hiring rate was recorded at 11.05 percent while separation rate was 8.55 percent.
Also, the net growth in employment among large firms in July to September 2011 represented a turnaround from the decline of 2.05 percent seen in the preceding quarter.
However, the figure translated to a slower growth from the 4.22 percent reported in the same quarter of 2010.
Further, the survey found that large enterprises took in new employees to fill in vacated posts and to address the need for additional hands because of business expansion.
As for job displacement, quitting continued to be a bigger reason than layoffs as observed in 10 of the 14 industry sectors that the study covered.
Quitting was noted to be “particularly high” in the sectors of real estate, renting and business activities (6.6 percent); hotels and restaurants (6.3 percent); and manufacturing (6.1 percent).
Layoffs were observed to be highest in mining and quarrying (17 percent); hotels and restaurants (5.3 percent); fishing (4.2 percent); and real estate, renting and business activities (4.2 percent).
Other sectors the study covered included “community, social and personal service,” education; construction; transport, storage and communications; financial intermediation; agriculture and forestry; health and social work; wholesale and retail trade; and electricity, gas and water.