Philippines charts 11% growth in e-hiring activity as the country beats Covid slump: Monster Employment Index

Overall hiring improved by 11 per cent on a year-on-year basis

BFSI took the top spot with 26% annual growth followed by Retail (22%) and Media industries (13%)

Finance & Accounts job roles charted a double-digit uptrend at 41% in job posting activity

BENGALURU,India,May 27,2022 -- Following the resumption of economic activities and easing of Covid-related restrictions,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 (MEI),the BFSI and Retail sectors have shown double digit growth in hiring activity,indicating their resilience amidst the on-going 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 (up 26 per cent) industry reported the highest incline annually as the country's banking system witnessed an increase in the usage of digital banking and e-wallet services. The Retail(up 22 per cent) industry remained one of the strongest sectors by the way of long-term growth as consumer intent to spend increases with the waning of the pandemic followed closely by Advertising,MR,PR,Media & Entertainment (up 13 per cent) sectors.

Commenting on job trends for the month of April 2022,Sekhar Garisa,CEO,Monster.com - APAC & Gulfsaid,"Philippines has shown tremendous resilience despite daunting conditions. While deep challenges such as the lasting effects of thepandemic and inflation 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 (up 10 per cent),Healthcare (up 7 per cent),Engineering,Construction and Real Estate (up 4 per cent),BPO/ITES (up 2 per cent) and Consumer Goods/ FMCG (up 1 per cent) while Production/Manufacturing,Automotive and Ancillary remained stagnant in recruitment activity in April'22.

Growth also remained muted in Logistics,Courier/ Freight/ Transportation (down 20 per cent) with the disruption to the port sector with the incoming of the tropical storm "Meghi" followed by Education (up 10 per cent) and Hospitality (down 5 per cent) which 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 (up 41 per cent) leading the charge followed by Purchase/ Logistics/ Supply Chain (up 30 per cent) and Marketing & Communications (up 22 per cent). Job roles such as HR & Admin (up 20 per cent),Software,and Hardware,Telecom (up 13 per cent),Customer Service (up 5 per cent),Engineering / Production,Real Estate (up 4 per cent),Healthcare (up 4 per cent) and Hospitality & Travel (up 3 per cent) also contributed to the positive growth in e-recruitment activity this month.

Hiring demand for Sales & Business Development (up 1 per cent) 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.

Period for the report

The period considered for the MEI data is 1st to 30th April 2022.

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