Online hiring in the country that suffered 24 percent drop in March this year recovered two percent in April, but still remained three percent below its year-ago level.
The reason for this depressed state was largely the 63 percent drop in online hiring of professionals in the hospitality and travel sector. According to the Monster Employment Index (MEI) of the online employment solutions provider Monster.com, which monitors the online job market in the country, this was the weakest online employment demand in the sector.
Aside from the hospitality and travel sector, many others also fell sharply. For instance, production, manufacturing, automotive and ancillary sectors fell 56 percent while engineering, construction and real estate was down 34 percent.
However, there were also areas that registered notable growth and helped MEI recover two percent in April from the month before. They included retail that registered 49 percent growth followed by advertising, market research, public relations, media and entertainment (up 31 percent), banking and financial services and insurance (up19 percent), education (up14 percent), and information technology and business process outsourcing sector (up13 percent).
Irrespective of these ups and downs in labor demand, the future looks promising. The Philippines, says the managing director of Monster.com, Sanjay Modi, is “likely to continue to lure more businesses, thanks to its business-friendly environment, which will continue to drive the labor market.” And he thinks that demand for financial analysts, BPO and IT professionals, web-developers and healthcare workers “will be on the rise in the months ahead.”
The country’s economy, he added, has expanded faster than analysts had forecast for the first quarter “largely driven by jobs across the services sectors.” This expansion has, according to him, also given rise to employee demands for various related roles, with the retail sector taking lead in hiring activities.
MEI Philippines is a monthly gauge of online job posting activity in various online employment portals. It records the industries and occupations that show the highest and lowest growth in recruitment activity.