BPOs, restaurants, hotels pay the highest - NSCB

RAPPLER - Call center agents, chefs, and hotel staff were among the most well paid workers in the Philippines, according to data released by the National Statistical Coordination Board (NSCB). Compensation per employee in the country increased to 5.7% in the first quarter this year, the NSCB said in the August 2012 issue of the Quarterly Economic Indices (QEI) of the Philippines.

This increase reflected the growth in the Total Compensation per Employee Index (TCEI) of Private Services of 12% in the first 3 months of the year.

The NSCB explained that private services include the Business Process Outsourcing (BPOs) firms, medical and health industries, recreational industries, personal services, hotel and restaurants, information and waste management services, among others.

"The QEI intends to provide measures of growth in production, gross revenue, employment and compensation in the various sectors of the economy," the NSCB explained.

Real Estate is king

The NSCB said the industry that raked in the highest amount of gross income and the sector that had the most number of employees is the real estate industry.

The real estate sector saw a 28.1% hike in its total gross revenue index (TGRI) and posted a growth of 8.1% in the total employment index (TEI).

Data showed that because of the real estate sector, the TGRI of all Philippine industries posted an 11.3% increase in the first quarter of 2012 from the previous year’s growth of 7.4%.

However, the TEI, the NSCB said, slowed to 3% in the first quarter of 2012 from 3.7% a year ago.

"These indicators were developed to guide users for a more meaningful economic analysis of current economic behavior and events. It is also used as deflators to express a current value in real terms, as bases for wage formulation and for forecasting and projections," the NSCB said.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.