Transportation and Communication as well as Private Services both posted the fastest growth at 9.5 percent with Private Services recording the faster growth from the 4.8 percent in the same period of 2014. Finance and Real Estate sectors both registered 7.4 percent growth. Trade grew by 5.6 percent , a deceleration from the 9.4 percent growth last year.
 

Total Employment Index increased at 2.8 percent growth slower from its 4.0 percent growth in the same quarter last year. Trade pulled down the index with a 1.4 percent drop from the previous year. The rest of the industries slowed down: Real Estate at 5.7 percent (from 11.2 percent); Private Services at 4.4 percent (from 6.3 percent); Manufacturing at 3.6 percent (from 4.0 percent); Mining and Quarrying with 2.7 percent (from 3.2 percent); Finance with 2.1 percent (from 10.0 percent); and Transportation and Communications with 0.1 percent (from 3.9 percent). Only Electricity and Water rebounded from a drop of 2.2 percent to positive 0.4 percent this year.
 

Meanwhile, Total Compensation Index registered 5.9 percent growth, lower as compared from last year’s 7.3 percent expansion. Among industries, only Electricity and Water as well as Trade posted faster growth with 6.6 percent and 1.6 percent from 2.1 percent and 1.0 percent, respectively. 
 

With the employment and compensation both slowing down, Total Compensation per Employee Index grew slower by 3.0 percent from 3.2 percent last year. The deceleration was mainly attributed to the slowdown in Finance (1.2 percent from 10.7 percent), Real Estate (1.2 percent from 9.2 percent), Manufacturing (4.3 percent from 6.5 percent), and Private Services (2.6 percent from 2.8 percent). On the other hand, Electricity and Water, and Trade grew at 6.2 percent and 3.0 percent, respectively.
 

This report is based on the February 2016 issue of the Quarterly Economic Indices (QEI) of the Philippines.

 

 

 

National Statistician and Civil Registrar General