Meanwhile, Total Employment Index rebounded to a positive growth of 1.0 percent after posting ten quarters of decline since the third quarter of 2007. Finance recorded the highest growth with 4.3 percent, followed by Real Estate with 4.0 percent. Other sectors that posted positive employment growths are Mining and Quarrying, Trade, Manufacturing and Electricity and Water. On the other hand, Private Services along with Transportation and Communication, declined by 6.1 percent and 1.1 percent respectively.

 

Total Compensation Index grew by 6.1 percent from last year’s minimal growth of 0.2 percent. The top performers, which posted double-digit growths were: Mining and Quarrying with 12.2 percent, followed by Trade with 11.2 percent. All other sectors registered positive growths during the period. 

 

Total Compensation Per Employee grew by 5.0 percent this quarter with a notable increase in the compensation index. Private Services posted the highest growth at 11.1 percent from 5.1 percent the previous year. Other sectors that registered positive growths are: Trade at 7.8 percent, Transportation and Communication at 5.5 percent, Electricity and Water at 5.2 percent and Manufacturing at 4.7. However, Compensation per Employee slowed down from last year’s growth of 8.0 percent. Mining and Quarrying decelerated to 8.1 percent from 11.0 percent last year while Finance and Real Estate declined by 0.9 percent and 0.8 percent respectively.   

 

This report is based on the July 2010 issue of the Quarterly Economic Indices (QEI) of the Philippines. 

 

 

Secretary-General