According to the Monster Employment Index (MEI), the BFSI and retail sectors posted double-digit growth in hiring activity, indicating their resilience in the face of the current geopolitical volatility. However, due to the multiple natural calamities that hit the country, hiring activity remained slightly subdued (down 2%) month-on-month.
The BFSI industry (up 26%) saw the steepest year-on-year decline as the country’s banking system remained largely unaffected by the Russia-Ukraine crisis and saw an increase in the use of digital banking services and electronic wallets. The retail sector (up 22%) remained one of the strongest sectors in terms of long-term growth, as consumers’ intention to spend increases with the decline of the pandemic, followed by nearly by advertising, RM, PR, media and entertainment (up 13%). percent) sectors.
Commenting on employment trends for the month of April 2022, Sekhar GarisaCEO, Monster.com – APAC and Gulf mentioned, “Philippines showed great resilience despite difficult conditions. While profound challenges such as the lasting effects of the pandemic, inflation, and the Russian-Ukrainian war remain, people have adapted to the challenges by embracing digitalization and creating new consumer segments. Private consumption and investment are also on the rise, and overall the country is poised for a strong economic comeback.”
Other sectors seeing promising growth are IT, Telecom/ISP (up 10%), Healthcare (up 7%), Engineering, Construction & Real Estate (up 10%). 4%), BPO/ITES (up 2%) and consumption. Goods/FMCG (+1%) while Production/Manufacturing, Automotive and Auxiliary remained flat in recruitment activity on April 22.
Growth also remained moderate in Logistics, Mail/Freight/Transport (-20%) with the disruption of the port sector with the arrival of tropical storm “Meghi” followed by Education (up 10%) and Hotels (down 5%). cent) who always displayed a cautious approach to hiring.
What spells good news for the country is that all functional areas tracked by the index showed positive intention to hire with finance and accounting (up 41%) leading the way, followed by purchasing /logistics/supply chain (up 30%) and Marketing & Communications (+22%). Positions such as HR and administration (up 20%), software and hardware, telecommunications (up 13%), customer service (up 5%), engineering/production, real estate (up 4%), healthcare ( up 4%) and Hospitality & Travel (up 3%) also contributed to the positive growth in online recruiting activity this month.
Hiring demand for sales and business development professionals (up 1%), however, remained weak in April 22 compared to April 21.
The Monster Jobs 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 openings selected from a wide representative selection of online opportunities, the Monster Jobs Index presents an overview of recruitment activity in line of employers nationwide.
The period considered for the MEI data is 1st at 30and April 2022.
About Monster APAC and Middle East
Monster (a Quess company), the leading online career and recruitment resource, with its cutting-edge technology, provides relevant profiles to employers and jobs to job seekers in all verticals, experience levels and areas geographical. Over 200 million people have registered with the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the most extensive and sophisticated job search, career management, recruiting and talent management capabilities in the world.
Monster continues its pioneering work of transforming the recruitment industry with cutting-edge technology using smart digital, social and mobile solutions, as well as a broad range of products and services.
To learn more about Monster in APAC and the Gulf, visit:
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| www.monster.com.ph | www.monster.com.hk
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