July on­line hir­ing posts first 2017 de­cline

Business World - - THE ECONOMY - Mon­ster.com Mon­ster.com Pa­trizia Paola C. Marcelo

ON­LINE hir­ing ac­tiv­ity fell in July, the first de­cline posted dur­ing the year, ac­cord­ing to an in­dex of In­ter­net job post­ings.

The Mon­ster Em­ploy­ment In­dex (MEI) fell 2% year on year in July, said in a statement.

On­line hir­ing by the re­tail in­dus­try rose 8% year on year in July, while ac­tiv­ity in the ad­ver­tis­ing, mar­ket research, pub­lic re­la­tions, me­dia and en­ter­tain­ment sec­tor fell 17%, af­ter hav­ing fallen 1% in June.

Bank­ing, fi­nan­cial ser­vices and in­sur­ance (BFSI) and busi­ness process out­sourc­ing (BPO) in­dus­tries posted in­creases at 4% each. Ed­u­ca­tion, engi­neer­ing, con­struc­tion and real es­tate posted de­clines at 11% and 10%, re­spec­tively.

By oc­cu­pa­tional group, cus­tomer ser­vice spe­cial­ists re­mained the most sought-af­ter oc­cu­pa­tions with a 5% rise in on­line hir­ing.

On the other hand, hu­man re­sources and ad­min­is­tra­tion con­tin­ued to show the sharpest de­cline across all oc­cu­pa­tional groups at 16%.

Fi­nance and ac­counts and soft­ware, hard­ware and tele­com fol­lowed cus­tomer ser­vice in the top oc­cu­pa­tional groups, de­spite post­ing de­clines at 3% and 4%, re­spec­tively.

Pur­chase/lo­gis­tics/sup­ply chain (12%) and mar­ket­ing and com­mu­ni­ca­tions (8%) oc­cu­pa­tions recorded the high­est de­clines af­ter hu­man re­sources and ad­min­is­tra­tion.

“With grow­ing com­pe­ti­tion from China’s pres­ence in the global out­sourc­ing sec­tor, out­sourc­ing ac­tiv­i­ties within Philip­pines have eased, shak­ing the na­tion’s econ­omy and con­tribut­ing in part to the over­all de­cline in hir­ing ac­tiv­ity — where our MEI re­ported the coun­try’s first dip this year. Ad­di­tion­ally, weak re­mit­tances and trade deficits have weak­ened the peso, see­ing the cur­rency plunge to an 11-year low and fur­ther af­fect­ing hir­ing con­fi­dence,” San­jay Modi, man­ag­ing di­rec­tor of for Asia Pa­cific and the Mid­dle East said.

Mr. Modi added that econ­o­mists main­tain a pos­i­tive out­look about the Philip­pines’ growth and that the re­tail sec­tor will con­tinue to per­form well: “De­spite be­ing faced with mul­ti­ple im­me­di­ate un­cer­tain­ties, econ­o­mists re­main hope­ful about the Philip­pines’ growth ahead, and this sug­gests op­por­tu­ni­ties for for­eign firms from the re­gion, such as Sin­ga­pore, to come in and tap on the na­tion’s solid re­sources and in­fra­struc­ture for com­mer­cial ac­tiv­i­ties. The Philip­pines’ re­tail sec­tor in par­tic­u­lar is do­ing con­sid­er­ably well, and this trend will likely stick through for the months ahead.” —

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