Release Date :
Reference Number :
201302ES101
Total Gross Revenue Index of industries accelerated to
Meanwhile, total employment index grew by 2.0 percent in Q3 2012 from a meager growth of 0.5 percent the previous year. Mining and Quarrying, growing by 15.2 percent, turned around from a decline of 19.9 percent a year ago. All other sectors recorded positive growths in Employment Index except for Trade and Transportation and Communication which declined by 1.3 and 1.7 percent, respectively.
Total Compensation Index, which includes salaries and wages received by employees in cash and in kind, rose by 7.1 percent in Q3 2012 from 4.1 percent the year before, with the highest growth recorded in Private Services expanding by 15.5 percent from 7.5 percent the previous year. Except for Finance and Manufacturing which declined by 8.8 and 0.4 percent, respectively, the rest of the sectors showed favorable performances in Total Compensation Index in Q3 2012.
Total Compensation per Employee Index expanded from 3.5 percent in Q3 2011 to 4.9 percent in the same quarter of 2012. The growth was brought by the robust performance of Transport and Communication, which grew by 8.5 percent, and the favorable performances of the other sectors. Finance, however, continued to post double-digit decline with 10.1 percent, together with Mining and Quarrying, Manufacturing and Real Estate which also declined by 8.2, 2.2 and 1.7 percent, respectively.
This report is based on the February 2013 issue of the Quarterly Economic Indices (QEI) of the Philippines.
JOSE RAMON G. ALBERT
Secretary General