Local firms anticipate employment opportunities to remain steady, albeit at a slightly lower level in the April-to-June period, the Bangko Sentral ng Pilipinas (BSP) said.
At the recently concluded Business Expectation Survey (BES), the employment outlook index remained positive in the second quarter, indicating that the number of optimists outnumber the ranks of pessimists in terms of their view in job opportunities.
In particular, the employment outlook index for the next quarter hit 23.3 percent. This was slightly lower compared to the 23.6 percent posted in the first three months of the year.
The BSP said the positive employment outlook indicates “sustained favorable economic conditions” in the country going forward.
Across sectors, the firms posting improved overall confidence in employment include the services and construction industries.
However, the wholesale and retail trade sector showed declines in confidence for the coming quarter this year.
Meanwhile, the percentage of local businesses expecting to expand in the second quarter of the year increased. This, according to the BSP, helped validate expectations of sustained growth for the country down the line.
The index of firms with expansion plans in the second quarter this year increased to 32.9 percent from the 30.5 percent in the previous quarter.
“Across subsectors, firms in mining and quarrying recorded the strongest expansion plans, followed by those in the electricity, gas and water, agriculture, fishery and forestry and manufacturing subsectors,” the central bank said.
The disconnect between lower expectations of job opportunities and higher expectations for expansion means that local firms expect to expand by increasing capital rather than by higher production and infrastructure buildup for the period, BSP officials explained.
The BES is a quarterly survey conducted by the central bank to gauge the business sentiment of firms across the country. –Bianca Cuaresma, Businessmirror
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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