The employment outlook in the last quarter of 2019 turned less bullish as the percentage of firms with expansion plans is lower compared to the third quarter, results of the Business Expectations Survey for the third quarter conducted by the Bangko Sentral ng Pilipinas show.
The employment outlook index for the fourth quarter 2019 remained positive although lower at 19.6 percent compared to the third-quarter survey result of 26 percent.
“This suggests that more firms will continue to hire new employees, although the number that said so are lower compared to the Q2 2019 survey result. Expansion plans are lower, while capacity utilization increases,” the BSP said.
The percentage of businesses with expansion plans in the industry sector for the fourth quarter of 2019 was lower at 30.4 percent from the second quarter survey result of 33.5 percent for third quarter 2019.