Online job hiring in the Philippines dropped 40 percent last February from a year ago as a reflection of weak global economic performance, an online research firm said.
Based on the latest Monster Employment Index (MEI), the drop followed the 33 percent annual decline in January 2016.
“The overall dip in online hiring is also likely caused by the nation’s declining export sales which have impacted the manufacturing sector,” Monster.com managing director for Southeast Asia Sanjay Modi said.
The manufacturing, automotive and ancillary sector is once again the worst performing industry, posting a 67 percent decline during the period.
For the seventh consecutive month, hospitality and travel jobs saw the steepest decline at 76 percent year-on-year.
Meanwhile, customer service roles registered a nine percent increase and took the lead among all industry sectors.
“Demands for customer service employees are expected to continue to grow as more foreign BPO (business process outsourcing) firms set up their companies here in Philippines and expand their workforce,” he said.
The banking, financial services, and insurance (BFSI) sector also posted a minimal one percent increase but is seen to exhibit continued annual positive growth in e-recruitment.
“The recent lifting of the ban on the grant of licenses for the establishment of new banks across the country is also expected to help fuel job openings, as more businesses in the finance sector open up,” Modi said.
He added the Philippine economy appears to be growing above average compared to its neighboring countries and remains to be an attractive spot for foreign investors that could spur hiring activities in the coming months.
The MEI 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. (L.M. Simeon)