Unemployment In Manila
The drop in employment or the decrease on the number of employed workers on Metro Manila’s seven hundred large business enterprises signifies growing rate of unemployment within Metro Manila despite its growing large population.
According to the Statistics of Bureau of Labor and Employment Statistics (BLES),employment in Metro Manila on the said seven hundred business enterprises decreased by 2.05 percent this second quarter of the year 2011.The Bureau of Labor and Employment Statistics (BLES) blame this employment drop on the decline of Philippine economy.
“This occurred as the4 domestic economy – measured in terms of gross domestic product or GDP – slowed down considerably to 3.4 percent in the second quarter from the robust 8.9 percent growth in 2010…measured in terms of labor turnover rate, employment growth declined as hiring or accession rate fell behind separation rate by 2.05 percentage points..”
The accession rate is 8.60 percent while separation rate is 10.65 percent, thus it yields 2.05 percent decrease.
On accession rate, according to the Statistics of Bureau of Labor and Employment Statistics (BLES) is reduced to 21 workers per 1,000 employed persons were hired on the workforce and 86 workers per 1,000 employed were hired due to replacement from the fired or terminated workers or resigned workers.
While separation rate is increased into 107 workers per 1,000 employed were either terminated or fired from their jobs or have quitted/resigned from their jobs.
The business enterprises that gains highest separation rate are:
(1) Real Estate and Renting and Business activities; gaining 9.43 percent either employee initiated quits or fired by the employer;
(2) Manufacturing business; gaining 6.04 percent either employee initiated quits or fired by the employer;
(3) And Hotel and Restaurants; gaining 6.02 percent either employee initiated quits or fired by the employer.
The separation rate is more of employee initiated quits or resigns having 6.67 percent than employer initiated quits or than being fired or terminated having only 3.98 percent. Thus, signifies that most workers in Metro Manila are not personally satisfied in their work or jobs or somewhat not committed.