THE country’s economic recovery in the fourth quarter paved the way for a double-digit growth in online hiring in the last quarter of 2019, according to Monster.com.
In a statement, Monster.com said online hiring in the Philippines grew an average of 14.67 percent from October to December, outpacing the third quarter of last year.
Based on the Monster Employment Index (MEI); online hiring grew 14 percent in December, and 15 percent in October and November 2019.
“The upward trajectory of online hiring growth in the Philippines is a reflection of last quarter’s economic recovery, and is likely to accelerate even further given the current landscape,” Krish Seshadri, CEO of Monster.com-Apac and Middle East, said.
“Consumer spending is expected to rise, driven by robust infrastructural developments, easing monetary conditions and a growing tourism sector, and this will help the economy maintain resilience,” he added.
Online recruitment was the highest in the Information Technology (IT) sector, posting a growth of 28 percent in December 2019, its highest growth last year.
Monster.com said the IT sector also performed well in the short-term, as well by posting a 4-percent month-on-month growth. In the fourth quarter last year, the IT sector grew by 9 percent. The MEI said the banking, financial services and insurance (BFSI) sector posted double-digit growth numbers during the period. Data showed it recorded a growth of 27 percent year-on-year for the month of December 2019.
The BPO/ITES sector has been posting long-term growth in the Philippines, which it maintained with a growth of 19 percent in December from 17 percent in November.
In terms of specific occupation, online hiring for Human Resources and Admin professionals remained robust with a 36-percent year-on-year increase for October. This dipped slightly to 35 percent and 32 percent in November and December, respectively.
Finance and Accounts professionals were the next most sought-after workers with a surge in demand of 26 percent in both October and November and 24 percent in December.
Software, Hardware and Telecom professionals also experienced notable growth in the last quarter of 2019, with December witnessing the highest rise in demand for the occupation in 2019.
“This is a good time for businesses and employers to start thinking ahead and take steps to future-proof their work force, so that they are prepared to compete with the expected future demand and maintain their relevance in the global landscape,” Seshadri said.
The MEI is a gauge of online job posting activity compiled monthly by Monster.com. It records the industries and occupations that show the highest and lowest growth in local recruitment activity.
It is based on a real-time review of millions of employer job opportunities culled from a large representative selection of career web sites and online job listings across the 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.