Online hiring in the Philippines’ IT, Telecom/ISP and BPO/ITES sector has posted a -4% year-over-year decline, according to the Monster Employment Index (MEI) in October. The decline reflected the negative demand for Software, Hardware and Telecoms talent which registered a -27% year-over-year dip in October.
“The sharp drop in Philippines’ demand for IT professionals came as a surprise given the sector’s positive outlook at the start of Q4,” said Sanjay Modi, Managing Director, Monster.com (India, Middle East, Southeast Asia, Hong Kong). “This could be partly attributed to the regulatory strictures implemented by the government and the pressure to reduce cost, driving the sector to outsource its competencies.”
The MEI is a monthly gauge of online job posting activity, based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings. 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.
