Recruitment of tech talent in the Philippines took a turn for the worse with negative figures for two consecutive months, according to the data provided by the Monster Employment Index, released by Monster.com.
The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data of overall hiring activity in each country, as well as specific data in IT and BPO sector.
Singapore’s annual growth for both April and May displayed no signs of life, remaining constant at 13%. Malaysia recorded negligent annual growth of 1% in May, a 7% decline from the 8% year-on-year growth in April.
The Philippines reported negative figures for both months, clocking in -8% and -6% respectively.
Singapore bounced back in its availability of tech jobs for May with a positive annual growth figure of 3%, up 4% from April’s -1%. In contrast, Malaysia worsened in growth for IT and telecommunications positions, reporting a 2% decline to reach -4% in May.
Despite its less than stellar performance in hiring tech talent, the Philippines witnessed abundant growth in the availability of software and telecom jobs. Double digit year-on-year growth figures were reported for April and May, at 20% and 19% respectively.
“The information technology industry has grown by leaps and bounds, causing spillovers into other sectors and fuelling advancements and innovations in industries which depend upon or utilise them – this could not be truer for countries in Southeast Asia. The advent of the internet in this region is unprecedented and has ushered in much disruption, albeit positive,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East.
“At this moment in time, there will be inconsistencies between demand and supply for tech talent. Upper management is well-advised to stay on top of all technological developments and empower their employees to do the same.”