Read this in The Manila Times digital edition.
INCREASED pay across 22 industries in the Philippines in 2021 shows that the country's economy is on its way to recovery, leading online job portal JobStreet reported on Wednesday.
In a report released by JobStreet, 50 percent of job posts in the platform offered increased pay across 22 industries in the country.
"With an average salary growth of 22.9 percent, this data shows that the country is inching its way to recovery," the firm said.
The report compared salary data from JobStreet's pool of employers between the first and third quarter of 2021 versus 2020 of the same period, and was conducted in six countries in Asia, including the Philippines.
"The report aimed to provide candidates with information and insights to manage their salary expectations and to help improve their career planning, while also assisting employers in making strategic hiring offers and decisions," said Philip Gioca, JobStreet Philippines country manager.
Based on the report, among the top industries that showed pay increases are education (67 percent), public service (64 percent), social services (52 percent), electrical/electronics (50 percent), computer/information technology or IT (48 percent).
They are followed by marketing/advertising (48 percent), telecommunications (48 percent), health care (48 percent), construction and building (47 percent) and communication service (46 percent).
JobStreet observed that public sectors are in need of quality employees, with job offers on the rise.
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With the new ways of working, computer/IT and telecommunications industries are also thriving and are offering higher compensation for their candidates. This same trend was also seen in digital marketing under marketing and advertising.
In terms of job specialization, the report shows job seekers are now offered with higher salaries due to the need for quality candidates who are digitally savvy, could keep the company operations going and are experts in medical fields amid the pandemic.
These are in education/training (65 percent), computer/IT (50 percent), administration and human resources (54 percent), health care (57 percent) and manufacturing (49 percent).
Mobility restrictions in the country have had adverse effects on several industries' salary offers. For instance, oil and gas, hospitality, consumer goods and retail industries experienced pay cuts.
Likewise, the banking and real estate industries offered lower salaries, potentially caused by the overall economic condition of the country.
While the call center/IT-enabled services/business process outsourcing industry brings in the most jobs in the market with bigger offers, some companies could not avoid the impact of the pandemic with 41 percent of their job ads posted with lower rates than 2020.
