Following the resumption of economic activities and easing of Covid-related restrictions, the Philippines has recorded an 11% year-on-year growth in e-recruitment activity in April’22 compared to the same month a year ago.
According to the Monster Employment Index, the BFSI and Retail sectors have shown double-digit growth in hiring activity, indicating their resilience amidst the ongoing geopolitical volatility. However, owing to multiple natural calamities that hit the country, hiring activity remained slightly muted (down 2 percent) month-on-month.
The BFSI industry reported the highest incline annually as the country’s banking system remained largely unaffected by the Ukraine Russia crisis and witnessed an increase in the usage of digital banking and e-wallet services. The Retail industry remained one of the strongest sectors in the way of long-term growth as consumer intent to spend increases with the waning of the pandemic followed closely by the Advertising, MR, PR, Media & Entertainment sectors.
Commenting on job trends for the month of April 2022, Sekhar Garissa, CEO, Monster.com – APAC & Gulf said, “The Philippines has shown tremendous resilience despite daunting conditions. While deep challenges such as the lasting effects of the pandemic, inflation, and the Russia Ukraine war remain, people have adapted to the challenges by embracing digitization and creating newer consumer segments. Private consumption and investments are also on the rise and overall, the country is poised to make a strong economic comeback.”
Other sectors witnessing promising growth are IT, Telecom/ISP, Healthcare, Engineering, Construction, and Real Estate, BPO/ITES, and Consumer Goods/ FMCG while Production/Manufacturing, Automotive, and Ancillary remained stagnant in recruitment activity in April’22.
Growth also remained muted in Logistics, Courier/ Freight/ Transportation with the disruption to the port sector with the incoming of the tropical storm “Meghi” followed by Education and Hospitalitywhich still exhibited a cautious approach towards hiring.
What heralds as good news for the country is that all functional areas monitored by the index exhibited positive intent to hire with Finance & Accounts leading the charge followed by Purchase/ Logistics/ Supply Chain and Marketing & Communications. Job roles such as HR & Admin, Software, and Hardware, Telecom, Customer Service, Engineering / Production, Real Estate, Healthcare, and Hospitality & Travel also contributed to the positive growth in e-recruitment activity this month.
Hiring demand for Sales & Business Development professionals however remained muted in April’22 compared to April’21.
The Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity conducted by Monster India. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.