Buoyant Construction Sector in the Philippines Helps Boost Overall Jobs Growth: PSA Report

The Philippines construction sector has been buoyant for some time now, and the positive cascading effect is evident in the fact that the 2014 third quarter saw a growth in jobs in Metro Manila.  These were the findings of a report published by the Philippine Statistics Authority (PSA).

The PSA’s report that deals with employment statistics states that consistent growth in activities related to areas such as business support services and administration, as well as the construction industry, technical activities, and professional scientific activities have helped the market gain more jobs and revenues.

According to the PSA data, the labor turnover as of September 2014 quarter showed an uptick of 2.35%. This figure marks an encouraging rise from the first quarter growth (a mere 0.59%) and the second quarter (0.88%) in 2014. The latest data also shows that the latest growth figures hover close to those of the same period last year (2.38%).

In the third quarter of 2014, construction industry growth was seen to be 11.9% YoY, which was the strongest during this period.  The report shows that for every 1,000 company workers employed in the National Capital Region or the NCR, about 23 new employees were added during the 3 months leading up to September 2014. And, for every thousand employees, about 131 new employees joined the ranks of workers. However, 108 workers were either fired or quit. 

The report also showed that the rate of hiring soared by 13.11%, while the rate of separation remained at about 10.76% during the same period. In addition, the rate of employment in the overall industry showed an improvement of about 2.45% and the services sector also showed an uptick of 2.34%. The agriculture sector, on the other hand, witnessed a drop in jobs by about 0.19%.

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