In August, THE PHILIPPINES experienced a 9% decrease in employment due to difficulties encountered in different industries, as reported by the talent platform foundit.
According to Sekhar Garisa, CEO of foundit, the job market in the Philippines is improving and emphasizes the importance of continuous learning and development to keep up with evolving hiring practices.
According to him, the findings of the foundit Insights Tracker report highlight the urgent necessity for employees to undergo re-skilling and upskilling in not just the Philippines, but also in Malaysia and Singapore.
From January to August, the Philippines saw a 5% decrease in job demand.
The talent platform stated that even though there was a decrease, the 3% increase from the previous month indicates a recovering job market and potential for future recovery.
According to a recent report, the Philippines experienced a 45% increase in job demand in the retail sector, largely due to the expansion of stores.
Unfortunately, the demand for logistics professionals in the Philippines decreased by 35%, following a previous decline of 24% for purchasing, logistics, and supply chain roles.
The hiring rate in the IT and telecommunications/internet service provider sectors decreased by 22% due to the unstable global economy.
Despite a 6% rise in demand for customer service specialists, the hospitality and business process outsourcing and information IT-services sectors saw no growth.
The need for marketing and communication experts decreased by 23% compared to the previous year, due to changes in marketing tactics in response to changing market conditions.
The analysis centers on the need for particular abilities, open job opportunities, and the pay scales in the Malaysia, Singapore, and Philippine markets. It aims to uncover trends in hiring across these three Asian markets. – Justine Irish D. Tabile