Economy



By Victor V. Saulon


March online job postings fall 24%; education up




Posted on April 27, 2016


ONLINE recruitment in the Philippines declined by 24% year-on-year in March, according to employment Web site Monster.com, which tracks online job posting activity.

The latest round of the Monster Employment Index for the Philippines shows the drop in recruitment activity eased from the 40% fall reported in February, Monster.com said in a news release on Tuesday.

Sanjay Modi, managing director at Monster.com for Southeast Asia said a significant improvement can be seen in some sectors such as education as a result of expectations of a steady economic growth.

“The Philippine economy is set for steady growth in 2016. Analysts forecast that the market is set to move from a lower-class to an upper middle-upper class income economy in over the next 10 years,” said Mr. Modi, who also oversees India, the Middle East and Hong Kong.

“As a result we can expect to see lower unemployment and increased wages as businesses demand more labor to meet the growing economy,” he added.

In March, education recorded the biggest year-on-year growth in recruitment activity.

The sector reported a 20% year-over-year growth in online hiring activities, the sharpest growth among the 14 sectors monitored by the index. The improvement is a reversal of the 21% decline reported in February.

The combined production, manufacturing, automotive and ancillary services sector continues to exhibit the biggest decline among industry groups, with 58% year-on-year fall. This, however, is an improvement over the 67% drop in the previous month.

Mr. Modi said the other sectors that are likely to see growth would include business process outsourcing, which he expects to add 225,000 new jobs this year. He said growth was also likely in finance and accounts, software development and legal outsourcing.

Among occupational groups, customer service professionals took the lead in annual online demand in March with 21% year-on-year growth. This is the steepest growth recorded in the sector since September 2015, Monster.com said.

Hospital and travel practitioners posted the deepest plunge at 64%. The report said that the March result was the group’s eighth consecutive month of decline.

Monster.com said the employment index was 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 Philippines.”

It said 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. The index was launched in May 2015, with data collected since February 2014.