Philippine companies plan to hire more workers in the third quarter this year and the next 12 months as the economy recovers from the impact of the global health crisis, the second-quarter Business Expectations Survey conducted by the Bangko Sentral ng Pilipinas shows.
The employment outlook index, according to the results of the the survey, increased to 25.4 percent for the third quarter from 24.7 percent in the first quarter 2022 poll results. It further rose to 30.7 percent (from 28.9 percent) for the next 12 months.
“The higher positive readings for Q3 2022 and the next 12 months suggest that firms are looking forward to hiring more people in the next quarter and the next several months,” said the BSP.
However, the percentage of businesses in the industry sector with expansion plans for the third quarter of 2022 declined to 17.9 percent from 20.8 percent in the first-quarter 2022 survey results. Similarly, the percentage of industry firms with expansion plans for the next 12 months decreased to 24.4 percent (from 25.6 percent).