ONLINE hiring activity across the Philippines continued to shrink in October, declining by 30 percent from a year earlier after falling 16 percent year-on-year in September, according to the latest Monster Employment Index (MEI) Philippines.
The MEI is a gauge of online job posting activity which records the industries and occupations that show the highest and lowest growth in recruitment activity locally.
“Despite the strong growth in the Philippines’ economy, the country struggles to keep up with its growing population, leading to underemployment among the working population.
There may have been a surge in the number of job roles created, including government job roles, but candidates may not necessarily be equipped with the right skill sets for the jobs,” said Sanjay Modi, managing director, Monster.com (India, Middle East, Southeast Asia, Hong Kong).
“At this point, the government may have to focus on boosting job opportunities in the agriculture and education sectors, on top of implementing more policies to manage the population and enhance employment in the country,” Modi added.
Meantime, also in October, the Banking, Financial services and Insurance (BFSI) sector—one of only two sectors registering positive growth—saw the steepest year-on-year growth at 25 percent, up from the 10 percent year-on-year growth registered in September.
The Production/ Manufacturing, Automotive and Ancillary sector was again the worst performing industry for online hiring, registering a 61 percent year-on-year decline, the MEI report said.
While none of the 10 occupational groups surveyed by the MEI registered positive year-on-year growth in October, Customer Service job roles experienced the least year-on-year decline of 2 percent. This is the first time the job category has registered a decline in the past four months.
Demand for Hospitality and Travel professionals remained the weakest, registering a 45 percent year-on-year decline.
The MEI Philippines is a monthly gauge of online job posting activity based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings across Philippines.
The index does not reflect the trend of any one advertiser or source but is an aggregate measure of the change in job listings across the industry.