NEARLY 100 workers out of 1,000 either got a job or lost one in the last two quarters of 2021, according to the Philippine Statistics Authority (PSA).
The PSA’s Labor Turnover Rate (LTR) data showed 96 out of 1,000 workers were employed in the third quarter while 97 out of 1,000 were hired in the fourth quarter 2021.
For every 1,000 employed persons, 89 workers in the third quarter and 91 workers in the last quarter were either laid off by their employers or voluntarily quit their jobs.
“The results of the Labor Turnover Survey for the last two quarters of 2021 showed both positive employment growth at 0.7 percent in the third quarter and 0.6 percent in the fourth quarter,” PSA said.
“These labor turnover rates implied that for every 1,000 employed persons, seven workers were added to the total workforce during the third quarter and six workers in the fourth quarter,” it added.
The data showed the services sector maintained its employment growth for the third and fourth quarters with labor turnover rates recorded at 0.7 percent and 1.1 percent, respectively.
During the third quarter, the highest LTR was posted by the education sector with 7.5 percent followed by “other service” activities at 2 percent and “administrative and support service” activities at 1 percent.
The lowest LTR was posted by transportation and storage with a contraction of 2.1 percent followed by “accommodation and food services” activities with 1.6 percent and “arts, entertainment and recreation” at 1.4 percent.
In the fourth quarter period, the main gainers included “accommodation and food services” activities with an LTR of 3.7 percent followed by the Professional, scientific and technical activities at 3.2 percent of the sector and transportation and storage at 2.6 percent.
The sectors that posted contractions in LTR or those who lost more workers in the fourth quarter, included Information and communication with a contraction of 2.3 percent followed by Arts, Entertainment and Recreation at 2 percent and human health and social work activities, 1.4 percent.
The agriculture, forestry and fishing sector recorded a negative turnover rate of 1.2 percent in the third quarter and posted a slight employment gain in the fourth quarter at 0.4 percent.
On the other hand, the labor turnover in the industry sector contracted 1.8 percent in the last quarter of 2021 after posting a growth of 0.6 percent posted in the third quarter.
Under this sector, the highest reduction in employment or lowest LTR was a contraction of 2.9 percent was recorded in mining and quarrying during the 3rd quarter and 2.5 percent in construction in the last quarter of 2021.
“It is worth noting that mining and quarrying bounced back in the fourth quarter as it registered the highest gain for the period at 10.6 percent labor turnover rate,” PSA said.
The LTS aims to come up with timely information on labor market trends in the formal sector of the economy, the items of inquiry have been limited to employment, labor turnover and existing job vacancies.
This information provides the government and the private sector a complete picture of labor demand and job turnover as inputs to decision making and policy formulation.