Job placements across the Philippines saw an increase of 45% in the second quarter of 2021 when compared to the first quarter, according to research from Michael Page Philippines.

Michael Page’s job placement data saw growth within sectors such as digital (up 38%), technology (up 18%) and financial services and fintech (up 22%).

Albert Pérez, Regional Director of Michael Page Philippines, said, "With the Covid-19 pandemic, the reality is that a lot of companies have to transform themselves digitally in the Philippines. This is really driving the jobs especially with a variety of consumer online services such as e-wallets, delivery, transportation and goods services."

Job movement in the digital space was up 38% in Q2 from Q1.

"We see a strong demand for professionals at all levels where companies have quickly adjusted to the rapidly evolving business landscape, often needing to bring in external skills sets to accelerate digital upgrades," Pérez added.

Hiring in the Philippines' financial services sector also rose 22% in Q2 2021 led by growth in the fintech and insurance spaces.

"The talent acquisition market is competitive in specialist fields, and the implementation of IFRS 17 (International Financial Reporting Standards), a global standard designed to achieve a consistent, principle-based accounting for insurance contracts by the International Accounting Standards Board (IASB), has created demand for talent,” Pérez said. “The pandemic has also accelerated the digital transformation in the banking sector. Fintech capabilities have to be quickly set up to ensure customer interactions remain effective and to assist customers with any urgent liquidity needs.”