14k Filipinos lost jobs in H1, data show | Inquirer Business
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14k Filipinos lost jobs in H1, data show

Most of affected workers were in real estate sector
/ 01:36 AM October 08, 2012

Some 14,000 Filipinos lost their jobs in the first semester this year as some 1,000 companies closed shop or laid off workers because of the economic situation, according to the Bureau of Labor and Employment Statistics (BLES).

Data from the BLES show that from January to June, 14,034 workers were “permanently displaced” as 1,018 firms suffered financial or organizational problems as well as lack of demand or raw materials for their products.

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Most of the affected workers were in real estate, renting and business activities (5,321 individuals); wholesale and retail (2,575); and manufacturing (3,009).

In the manufacturing sector, most of those laid off worked for employers doing business in food and beverages, wearing apparel, and fabricated metal products other than machinery and equipment.

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Among these companies that resorted to permanent closure or retrenchment, most of them did so because of the need to reorganize or downsize and rationalize redundant positions (with 628 firms); lack of market or slump in demand for their outputs (155); and financial losses (109).

Workers who got displaced due to decisions made by these groups of firms numbered 6,193; 3,942; and 1,277, respectively.

In terms of location, more than two-thirds (69 percent, or 9,724 individuals) of the displaced workers in the first semester were based in the National Capital Region (NCR).

Also, 14 percent, or 1,952 workers, were based in Central Luzon and 11 percent, or 1,537 workers, were from Central Visayas, which includes the province of Cebu.

Related data from the BLES showed that the number of jobs among the top large enterprises in the NCR continued to grow slower in the first quarter as the decline of employment in agriculture pulled down gains in industry and services.

For every 1,000 enterprise workers in Metro Manila, 81 new hires were added but 75 quit or were fired.

Among 18 industries covered, job growth was greatest in mining and quarrying (9.8 percent); and professional, scientific and technical services (5 percent).

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On the other hand, job loss was highest in “other service activities” (18.6 percent) and education (3.2 percent).

The data is part of the BLES’ survey of 700 large corporations in NCR, which were drawn from the 2011 edition of the Securities and Exchange Commission’s list of “Top 25,000 Corporations.”

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TAGS: Business, Employment, lost jobs, Philippines
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