Release Date :
Reference Number :
201210ES104
Total Gross Revenue Index of industries accelerated by
Meanwhile, total employment index turned around from a decline of 1.8 percent in 2011 to a growth of 3.3 percent in the second quarter of 2012. Mining and Quarrying, growing by 8.4 percent, likewise turned around from a double-digit decline of 18.7 percent a year ago. All other sectors recorded positive growths in Employment Index except for Trade and Electricity, Gas and Water which declined by 1.2 and 0.1 percent, respectively.
Total Compensation Index, which represents the salaries and wages paid out by industries in cash and in kind, rose by 9.4 percent from 3.2 percent last year. Again, Mining and Quarrying expanded to 16.0 percent from a decline of 1.6 percent the previous year. Except for Finance and Real Estate which declined by 17.1 and 0.1 percent, respectively, the rest of the sectors showed favorable performances in Total Compensation Index in Q2 2012.
Total Compensation per Employee Index expanded from 5.1 percent last year to 5.9 percent in Q2 2012. The growth was brought by the robust performance of Private Services, which grew by 11.4 percent, and the favorable performances of the other sectors. Finance, on the other hand, continued to post double-digit decline with 18.5 percent, together with Real Estate, which also declined by 6.2 percent .
This report is based on the October 2012 issue of the Quarterly Economic Indices (QEI) of the Philippines.
JOSE RAMON G. ALBERT
Secretary General
