Economy


Online hiring in Feb. up 10% -- Monster.com




Posted on March 30, 2017


ONLINE HIRING in February was at its highest level since November 2014 with the continued growth of the information technology (IT) and business process outsourcing (BPO) sector, according to online hiring site Monster.com.

The Monster Employment Index (MEI) showed a 10% year-on-year rise in online hiring during the month, hitting 100 in February, compared with the 6% annual growth or an index reading of 94 recorded a month prior.

This was the highest the index has been since November 2014, when the MEI was 113.

“As one of the fastest growing economies in the region, the job market in the Philippines is likely to remain vigorous and attract more foreign investment including offshoring,” Monster.com Managing Director of Asia and the Pacific and Middle East Sanjay Modi said in a statement.

He added that the surge in online job postings such as logistics and transportation may have been caused by slight improvements in global trade activity.

“The continued expansion of the IT and BPO sector in the country, will see an increase in career opportunities for specialized roles in cloud and data analytics,” Mr. Modi said.

The MEI is a monthly measure of online job posting activity in the country, recording the industries and occupations which show the highest and lowest growth in recruitment activity, and is also an aggregate measure of change in job listings across the industry.

The top growing industries in online employment are led by the logistics, courier/freight/transportation, import/export, and shipping sector, which reported the largest growth in online hiring at 28% in e-recruitment between February 2016 and 2017.

The online hiring site called this “the most-notable” yearly growth in the series.

The BPO/information technology enabled services (ITES) and IT, telecom/internet service provider (ISP) sector booked growth of 24%, retail at 25%, banking, financial services and insurance (BFSI) at 24% and hospitality at 19%.

Meanwhile, the engineering, construction and real estate sector showed the steepest decline in online hiring activity at minus 5% year on year.

Among the occupations, demand for customer service jobs was the highest with 23% year-on-year growth in February.

This was followed by demand for occupations in software, hardware, telecommunications (17%); purchase/logistics/supply chain (15%); human resources and administration (9%); and finance and accounts (8%).

Meanwhile, demand for jobs in engineering/production and real estate declined 2% last month.

“Businesses will need to upskill existing employees to meet global industry standards and demands particularly in niche roles like animation, software development, risk and compliance,” Mr. Modi said. -- Danica M. Uy