Online recruitment in the Philippines recorded an increase of 1% in June 2022 when compared to June 2021, according to data from the Monster Employment Index (MEI).

The Index rose to 127 in June 2022 from 125 in June 2021.

Month-on-month, hiring activity dropped by 4%.

The decline in job demand is reflective of the prevailing challenging economic conditions, Monster stated. Keeping in mind the uncertain economic/political scenario, companies are adopting a cautious approach while hiring which is reflected in the index, it added.

Online hiring demand in June 2022 exceeded June 2021 level in 6 of the 12 industries monitored by the Index.

Hiring in the BFSI (banking, financial services and insurance) rose 15% leading growth among all industries.

On the other hand, year-on- year growth rate declined dramatically for Logistics, Courier/Freight/Transportation (-32%) which witnessed the lowest job demand in June 2022.

Annual online demand for professionals increased in eight out of 10 functional areas as monitored by the Index. Finance and Accounts led growth (+20%).

Sales & Business Development (-10%) and Healthcare (-6%) functions plunged further marking the steepest decline among all monitored job roles.

The Monster Employment Index is a broad and comprehensive monthly and quarterly analysis of online job posting activity conducted by Monster India.