Employment BSI Highest Ever for 4th Quarter

Employment prospects as judged by the Business Survey Index (BSI) in the fourth quarter of this year should be quite favorable as the index posted its highest figure for the employment market in the five years since the survey began compiling statitistics and making predictions in August 1994.
According to the Labor Ministry on Oct 25, the estimated employment index of the BSI in the fourth quarter of 1999, after surveying 451 manufacturers employing more than 30 workers was conducted, amounted to 111.5, up 9.1 points from that in the third quarter.
The BSI is a comprehensive system for predicting future trends based on the most up-to-date data and research of firms. One component of the BSI is employment prospects in the near future where a figure above 100 represents an increase and below 100 means a proportional decrease in employment.
The BSI, which started at 108.3 in the fourth quarter of 1994, has continued to show signs of recovering since plunging to 49.7, the lowest ever, in the first quarter of last year.
However, large companies over 500 workers are forecasted to reduce employee-levels for the time being because their BSI hit 91.3.
By business category, the BSI's employment prospects in the manufacturing industry is 111.5, the highest among all sectors, followed by wholesale and retail at 109.8. Real estate, transportation and telecommunications, and finance are at 107.5, 107.2, and 105.6 respectively.
Seo Jang-soo:jsbee@joongang.co.kr